Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $53.00 by Analysts at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its price objective dropped by JMP Securities from $57.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 58.30% from the stock’s current price.

A number of other brokerages also recently weighed in on CZR. Jefferies Financial Group cut their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Truist Financial decreased their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays decreased their target price on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.86.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $33.48 on Thursday. Caesars Entertainment has a one year low of $30.78 and a one year high of $47.99. The company has a market cap of $7.11 billion, a P/E ratio of -20.05 and a beta of 2.90. The firm has a 50-day moving average of $35.95 and a 200-day moving average of $38.04. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. Equities research analysts forecast that Caesars Entertainment will post -0.57 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Caesars Entertainment by 4.5% in the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock worth $4,734,000 after purchasing an additional 4,840 shares during the period. Key Colony Management LLC purchased a new stake in Caesars Entertainment in the fourth quarter worth about $6,350,000. National Bank of Canada FI lifted its holdings in Caesars Entertainment by 87.2% in the third quarter. National Bank of Canada FI now owns 109,526 shares of the company’s stock worth $4,572,000 after buying an additional 51,034 shares during the period. Hsbc Holdings PLC boosted its position in Caesars Entertainment by 42.7% during the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after acquiring an additional 145,201 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $1,300,000. 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.