Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $27.00 by Analysts at Morgan Stanley

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by Morgan Stanley from $29.00 to $27.00 in a research report report published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on CZR. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. The Goldman Sachs Group cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $24.00 in a research report on Monday, December 15th. Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Citizens Jmp lowered their price objective on shares of Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a report on Wednesday, October 29th. Finally, Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and upped their target price for the stock from $25.00 to $31.00 in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.33.

Caesars Entertainment Trading Down 3.9%

CZR opened at $24.35 on Friday. Caesars Entertainment has a one year low of $18.25 and a one year high of $40.00. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. The business has a 50 day simple moving average of $23.06 and a two-hundred day simple moving average of $24.77. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -21.17, a PEG ratio of 5.19 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. Caesars Entertainment’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted ($0.04) earnings per share. Analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC boosted its position in shares of Caesars Entertainment by 55.3% in the 4th quarter. FNY Investment Advisers LLC now owns 5,500 shares of the company’s stock worth $128,000 after purchasing an additional 1,958 shares in the last quarter. CoreCap Advisors LLC raised its stake in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares during the last quarter. Hickory Point Bank & Trust bought a new stake in Caesars Entertainment in the fourth quarter worth $333,000. DAVENPORT & Co LLC grew its stake in shares of Caesars Entertainment by 0.4% in the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after acquiring an additional 18,414 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Caesars Entertainment by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company’s stock worth $25,677,000 after acquiring an additional 419,617 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.