Caesars Entertainment (NASDAQ:CZR) Given “Outperform” Rating at Macquarie

Macquarie reaffirmed their outperform rating on shares of Caesars Entertainment (NASDAQ:CZR) in a research report report published on Wednesday, Benzinga reports. They currently have a $50.00 target price on the stock.

Several other brokerages have also recently issued reports on CZR. Susquehanna reissued a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Stock Down 8.2 %

Shares of NASDAQ CZR opened at $41.57 on Wednesday. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The firm has a fifty day moving average of $40.90 and a 200-day moving average of $38.14. The stock has a market capitalization of $9.00 billion, a PE ratio of 11.77 and a beta of 2.97. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts anticipate that Caesars Entertainment will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in CZR. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Caesars Entertainment by 14.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,292 shares of the company’s stock valued at $1,194,000 after purchasing an additional 3,474 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Caesars Entertainment by 9.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,129 shares of the company’s stock valued at $1,886,000 after purchasing an additional 3,657 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Caesars Entertainment by 11.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,288 shares of the company’s stock valued at $931,000 after purchasing an additional 2,221 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Caesars Entertainment in the 1st quarter valued at about $150,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after purchasing an additional 20,692 shares in the last quarter. Institutional investors and hedge funds 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.