Morgan Stanley Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $27.00

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

Several other analysts have also commented on the stock. Macquarie decreased their price target on shares of Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Citizens Jmp lowered their target price on shares of Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Wells Fargo & Company began coverage on Caesars Entertainment in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $35.33.

Caesars Entertainment Stock Down 3.9%

Caesars Entertainment stock opened at $24.35 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The firm has a market cap of $4.97 billion, a P/E ratio of -21.17, a P/E/G ratio of 4.99 and a beta of 2.03. The business has a fifty day moving average of $23.06 and a two-hundred day moving average of $24.70. Caesars Entertainment has a twelve month low of $18.25 and a twelve month high of $40.00.

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

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors grew its stake in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. State Street Corp lifted its holdings in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the period. DAVENPORT & Co LLC boosted its position in Caesars Entertainment by 0.4% in the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock valued at $101,797,000 after buying an additional 18,414 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Caesars Entertainment by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after buying an additional 2,490,924 shares during the period. Finally, Norges Bank purchased a new position in Caesars Entertainment during the 2nd quarter worth approximately $79,604,000. Hedge funds and other 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.