Caesars Entertainment’s (CZR) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Caesars Entertainment (NASDAQ:CZR) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $59.00 target price on the stock.

Several other research firms also recently issued reports on CZR. Wells Fargo & Company lifted their price target on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Susquehanna restated a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.54.

Caesars Entertainment Trading Down 0.8 %

NASDAQ:CZR opened at $44.64 on Monday. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The business’s 50-day simple moving average is $39.39 and its 200-day simple moving average is $38.05. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The stock has a market capitalization of $9.66 billion, a PE ratio of 12.65 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the firm posted $0.82 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts expect that Caesars Entertainment will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after acquiring an additional 3,289,748 shares during the period. Nut Tree Capital Management LP raised its position in shares of Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after purchasing an additional 1,700,000 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after buying an additional 1,515,763 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of 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 worth $60,102,000 after buying an additional 1,418,318 shares during the period. Finally, Helikon Investments Ltd acquired a new position in Caesars Entertainment in the 2nd quarter valued at about $37,763,000. 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.