Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $42.00 at Morgan Stanley

Caesars Entertainment (NASDAQ:CZR) had its price target upped by Morgan Stanley from $40.00 to $42.00 in a research report released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts also recently commented on CZR. Wells Fargo & Company lifted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $59.00 price objective on shares of Caesars Entertainment in a report on Monday, October 14th. Stifel Nicolaus raised their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their target price on Caesars Entertainment from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Susquehanna reissued a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.54.

Caesars Entertainment Trading Up 0.5 %

NASDAQ CZR opened at $44.02 on Tuesday. The stock’s 50-day simple moving average is $40.11 and its two-hundred day simple moving average is $38.07. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51. 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 market capitalization of $9.53 billion, a price-to-earnings ratio of 12.47 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts forecast that Caesars Entertainment will post -0.16 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Capital Research Global Investors boosted its position in shares of Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP boosted its position in shares of Caesars Entertainment by 340.0% in the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Caesars Entertainment by 6,568.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd bought a new stake in shares of Caesars Entertainment in the 2nd quarter worth approximately $37,763,000. 91.79% of the stock is owned by 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.