JMP Securities Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by equities research analysts at JMP Securities from $57.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 55.65% from the stock’s previous close.

CZR has been the topic of several other reports. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus boosted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Macquarie restated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $51.86.

Caesars Entertainment Price Performance

CZR stock opened at $34.05 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 $7.23 billion, a price-to-earnings ratio of -20.39 and a beta of 2.90. The business has a fifty day moving average of $35.65 and a two-hundred day moving average of $37.98.

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 analysts’ consensus estimates 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 business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Caesars Entertainment will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CZR. Avior Wealth Management LLC raised its holdings in shares of Caesars Entertainment by 12,577.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock valued at $76,000 after purchasing an additional 2,264 shares in the last quarter. Aspire Private Capital LLC increased its holdings in Caesars Entertainment by 48.3% in the fourth quarter. Aspire Private Capital LLC now owns 7,683 shares of the company’s stock valued at $257,000 after buying an additional 2,503 shares during the last quarter. Key Colony Management LLC acquired a new stake in Caesars Entertainment in the fourth quarter valued at $6,350,000. Assenagon Asset Management S.A. lifted its holdings in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after buying an additional 1,697,443 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Caesars Entertainment by 4.6% during the 4th quarter. Czech National Bank now owns 46,079 shares of the company’s stock worth $1,540,000 after acquiring an additional 2,009 shares in the last quarter. 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.