Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $41.00 at Morgan Stanley

Caesars Entertainment (NASDAQ:CZR) had its target price cut by Morgan Stanley from $43.00 to $41.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

CZR has been the topic of several other reports. Truist Financial lowered their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their target price on Caesars Entertainment from $67.00 to $54.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Caesars Entertainment from $62.00 to $59.00 and set a buy rating on the stock in a research note on Friday, April 12th. B. Riley started coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They issued a buy rating and a $70.00 price objective on the stock. Finally, Raymond James initiated coverage on shares of Caesars Entertainment in a research note on Tuesday, May 21st. They issued a strong-buy rating and a $55.00 price target on the stock. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $55.27.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $40.00 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67. The business has a 50-day moving average of $36.52 and a 200-day moving average of $40.33. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 11.33 and a beta of 2.98. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.52). The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. As a group, sell-side analysts predict that Caesars Entertainment will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the transaction, the director now owns 350 shares of the company’s stock, valued at $11,382. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the transaction, the director now directly owns 350 shares of the company’s stock, valued at approximately $11,382. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael E. Pegram bought 40,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. American Trust raised its position in Caesars Entertainment by 4.5% in the first quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after purchasing an additional 313 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Caesars Entertainment by 8.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System boosted its position in Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 59,170 shares of the company’s stock worth $2,774,000 after buying an additional 457 shares during the period. Private Advisor Group LLC grew its holdings in Caesars Entertainment by 12.0% during the 4th quarter. Private Advisor Group LLC now owns 5,040 shares of the company’s stock worth $236,000 after acquiring an additional 538 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Caesars Entertainment by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the company’s stock valued at $728,000 after acquiring an additional 580 shares during the period. Institutional investors own 91.79% of the company’s stock.

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.