Morgan Stanley Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective dropped by equities researchers at Morgan Stanley from $27.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 24.75% from the company’s current price.

A number of other equities analysts also recently commented on CZR. Truist Financial lowered their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. The Goldman Sachs Group lowered Caesars Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Monday, December 15th. Wall Street Zen lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Barclays cut their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Susquehanna upgraded shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and upped their target price for the company from $25.00 to $31.00 in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $33.24.

Caesars Entertainment Stock Down 1.5%

Shares of Caesars Entertainment stock traded down $0.30 on Wednesday, reaching $20.04. 692,243 shares of the company were exchanged, compared to its average volume of 6,030,252. The stock’s 50 day moving average price is $22.53 and its 200-day moving average price is $23.28. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $36.26. The company has a market cap of $4.08 billion, a P/E ratio of -8.22, a price-to-earnings-growth ratio of 78.25 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Caesars Entertainment during the third quarter worth $28,000. Sunbelt Securities Inc. grew its position in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Caesars Entertainment during the 3rd quarter worth $41,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.