Barclays Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective lowered by stock analysts at Barclays from $57.00 to $55.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 48.61% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. JMP Securities dropped their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Morgan Stanley increased their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.71.

Caesars Entertainment Price Performance

NASDAQ:CZR opened at $37.01 on Friday. The stock has a market cap of $7.86 billion, a PE ratio of -22.16 and a beta of 2.89. 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 business’s 50-day simple moving average is $40.58 and its two-hundred day simple moving average is $38.63. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results 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 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business posted $0.34 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, analysts forecast that Caesars Entertainment will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of large investors have recently made changes to their positions in CZR. Janus Henderson Group PLC lifted its position in shares of Caesars Entertainment by 18.7% during the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Bamco Inc. NY purchased a new position in Caesars Entertainment in the 3rd quarter worth about $61,890,000. SG Americas Securities LLC lifted its holdings in Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after buying an additional 1,418,318 shares in the last quarter. Helikon Investments Ltd purchased a new stake in Caesars Entertainment in the 2nd quarter valued at about $37,763,000. Finally, Progeny 3 Inc. bought a new position in Caesars Entertainment in the 3rd quarter worth about $37,649,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

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.