Caesars Entertainment’s (CZR) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Caesars Entertainment (NASDAQ:CZR) in a research note published on Monday morning, Benzinga reports. The firm currently has a $59.00 price target on the stock.

CZR has been the topic of several other research reports. Jefferies Financial Group reduced their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note 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 company an “overweight” rating in a research report on Wednesday, July 31st. Susquehanna reaffirmed a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.54.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $44.64 on Monday. The firm has a market cap of $9.66 billion, a P/E ratio of 12.65 and a beta of 2.97. The firm’s 50-day simple moving average is $39.39 and its 200-day simple moving average is $38.05. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data 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 company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts expect that Caesars Entertainment will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in Caesars Entertainment in the third quarter valued at approximately $522,000. UMB Bank n.a. acquired a new position in shares of Caesars Entertainment in the 3rd quarter valued at $51,000. CWM LLC boosted its position in shares of Caesars Entertainment by 92.0% in the 3rd quarter. CWM LLC now owns 4,993 shares of the company’s stock worth $208,000 after purchasing an additional 2,392 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the period. Finally, Czech National Bank increased its holdings in Caesars Entertainment by 6.9% in the third quarter. Czech National Bank now owns 44,070 shares of the company’s stock valued at $1,839,000 after purchasing an additional 2,830 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.