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

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

Several other equities analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set an equal weight rating for the company in a report on Wednesday, September 4th. StockNews.com downgraded Caesars Entertainment from a hold rating to a sell rating in a report on Thursday, August 1st. Jefferies Financial Group dropped their price target 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. Susquehanna reiterated a negative rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $54.54.

Caesars Entertainment Stock Up 2.3 %

Shares of NASDAQ CZR opened at $45.53 on Monday. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51. The firm has a market capitalization of $9.85 billion, a PE ratio of 12.90 and a beta of 2.97. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The firm’s 50-day moving average is $38.98 and its 200-day moving average is $37.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Caesars Entertainment by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after acquiring an additional 20,692 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Caesars Entertainment by 201.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock worth $2,650,000 after purchasing an additional 40,517 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Caesars Entertainment by 249.0% in the 1st quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock valued at $8,131,000 after purchasing an additional 132,720 shares during the period. Finally, Sei Investments Co. lifted its stake in Caesars Entertainment by 263.2% in the 1st quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock valued at $15,111,000 after purchasing an additional 250,354 shares during the last quarter. 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.