Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $57.00 by Analysts at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its target price reduced by JMP Securities from $59.00 to $57.00 in a report released on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Macquarie reissued an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Susquehanna reissued a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.86.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $39.42 on Monday. The stock has a fifty day moving average price of $41.63 and a 200 day moving average price of $38.37. The stock has a market cap of $8.38 billion, a PE ratio of -23.60 and a beta of 2.96. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last issued 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 return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Sell-side analysts forecast that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in Caesars Entertainment by 9.8% during 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 during the period. Coldstream Capital Management Inc. purchased a new stake in Caesars Entertainment during the third quarter valued at about $262,000. MidWestOne Financial Group Inc. boosted its position in shares of Caesars Entertainment by 59.7% in the third quarter. MidWestOne Financial Group Inc. now owns 41,816 shares of the company’s stock worth $1,745,000 after buying an additional 15,629 shares during the period. M&T Bank Corp boosted its position in shares of Caesars Entertainment by 163.7% in the third quarter. M&T Bank Corp now owns 26,013 shares of the company’s stock worth $1,086,000 after buying an additional 16,150 shares during the period. Finally, Gordian Capital Singapore Pte Ltd boosted its position in shares of Caesars Entertainment by 251.3% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 25,410 shares of the company’s stock worth $1,061,000 after buying an additional 18,176 shares during the period. Hedge funds and other 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.