Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $53.00 at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by JMP Securities from $57.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 58.30% from the stock’s previous close.

CZR has been the topic of several other reports. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. Truist Financial cut their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.86.

Caesars Entertainment Stock Performance

Shares of CZR opened at $33.48 on Thursday. Caesars Entertainment has a 52 week low of $30.78 and a 52 week high of $47.99. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market cap of $7.11 billion, a P/E ratio of -20.05 and a beta of 2.90. The business’s 50 day moving average price is $35.95 and its 200-day moving average price is $38.04.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities research analysts anticipate that Caesars Entertainment will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Key Colony Management LLC purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at $6,350,000. Assenagon Asset Management S.A. grew its stake in Caesars Entertainment by 383.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after purchasing an additional 1,697,443 shares during the last quarter. Czech National Bank grew its position in shares of Caesars Entertainment by 4.6% in the 4th quarter. Czech National Bank now owns 46,079 shares of the company’s stock worth $1,540,000 after buying an additional 2,009 shares during the last quarter. Principal Financial Group Inc. lifted its position in Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after acquiring an additional 59,170 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Caesars Entertainment by 9.8% in the third quarter. Sanctuary Advisors LLC now owns 20,214 shares of the company’s stock valued at $844,000 after acquiring an additional 1,807 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors.

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.