Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $40.00

Caesars Entertainment (NASDAQ:CZR) had its price objective cut by Morgan Stanley from $41.00 to $40.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

CZR has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Caesars Entertainment from a hold rating to a sell rating in a research report on Thursday, August 1st. Susquehanna reaffirmed a negative rating and set a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Finally, Raymond James began coverage on Caesars Entertainment in a research note on Tuesday, May 21st. They issued a strong-buy rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $54.14.

Caesars Entertainment Price Performance

CZR stock opened at $36.87 on Wednesday. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $55.71. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The company has a fifty day simple moving average of $36.83 and a two-hundred day simple moving average of $38.10. The firm has a market capitalization of $7.98 billion, a P/E ratio of 10.44 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts anticipate that Caesars Entertainment will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in CZR. Blue Trust Inc. boosted its holdings in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $45,000. Principal Securities Inc. acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $46,000. Mather Group LLC. purchased a new position in Caesars Entertainment in the 1st quarter valued at approximately $53,000. Finally, TFO Wealth Partners LLC raised its holdings in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after purchasing an additional 1,146 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

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.