Raymond James Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its target price reduced by research analysts at Raymond James from $55.00 to $49.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 73.45% from the company’s previous close.

CZR has been the subject of a number of other reports. Jefferies Financial Group cut their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Macquarie cut their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, 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 report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $28.25 on Wednesday. The stock has a fifty day moving average price of $33.47 and a 200-day moving average price of $37.00. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -16.92 and a beta of 2.97. 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 has a fifty-two week low of $26.42 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. As a group, equities analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in the company. FIL Ltd bought a new position in shares of Caesars Entertainment during the fourth quarter worth about $28,000. Bogart Wealth LLC raised its position in shares of Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares during the last quarter. Huntington National Bank raised its position in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after acquiring an additional 833 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Caesars Entertainment during the fourth quarter worth about $44,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after acquiring an additional 800 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.