Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $31.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has decreased the price target for Caesars Entertainment from $32.00 to $31.00, maintaining an "equal weight" rating, indicating a potential upside of 23.57% from the current price.
• Several analysts have varying opinions on the stock, with four recommending hold, twelve providing buy ratings, and one issuing a strong buy rating, resulting in a consensus rating of "Moderate Buy" with an average target price of $42.47.
• Caesars Entertainment reported a quarterly earnings miss with an EPS of (0.39), falling short of expectations, despite a year-over-year revenue increase of 2.7% to $2.91 billion.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its target price reduced by Morgan Stanley from $32.00 to $31.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Macquarie cut their target price on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. JMP Securities lowered their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Truist Financial lowered their target price on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Susquehanna decreased their price target on Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Down 0.4%

CZR traded down $0.10 on Wednesday, hitting $24.04. The company had a trading volume of 7,491,287 shares, compared to its average volume of 6,396,339. The stock has a fifty day simple moving average of $28.09 and a 200-day simple moving average of $29.20. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $5.00 billion, a P/E ratio of -26.13 and a beta of 2.40. Caesars Entertainment has a 52-week low of $21.40 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.56) earnings per share. As a group, equities analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently modified their holdings of CZR. Vanguard Group Inc. grew its stake in shares of Caesars Entertainment by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company's stock valued at $588,721,000 after buying an additional 183,963 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock valued at $662,088,000 after purchasing an additional 2,555,876 shares in the last quarter. Cohen & Steers Inc. increased its stake in Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock worth $487,265,000 after buying an additional 1,882,728 shares during the period. Invesco Ltd. lifted its holdings in Caesars Entertainment by 22.9% during the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock worth $170,582,000 after buying an additional 1,269,911 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Caesars Entertainment by 20.1% in the second quarter. DAVENPORT & Co LLC now owns 4,196,893 shares of the company's stock worth $120,199,000 after acquiring an additional 700,978 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.