Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $55.00 at Barclays

Caesars Entertainment (NASDAQ:CZR) had its price target cut by Barclays from $57.00 to $55.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on CZR. Stifel Nicolaus lifted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JMP Securities cut their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company lowered their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.71.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $37.01 on Friday. 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 has a 1 year low of $31.74 and a 1 year high of $50.51. The stock has a market capitalization of $7.86 billion, a PE ratio of -22.16 and a beta of 2.89. The company’s 50 day simple moving average is $40.58 and its two-hundred day simple moving average is $38.68.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. Analysts predict that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Hsbc Holdings PLC raised its holdings in Caesars Entertainment by 42.7% in the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock worth $19,148,000 after purchasing an additional 145,201 shares during the period. Entropy Technologies LP purchased a new position in shares of Caesars Entertainment during the 3rd quarter valued at about $1,300,000. LMR Partners LLP bought a new position in shares of Caesars Entertainment during the 3rd quarter valued at approximately $903,000. Gabelli Funds LLC increased its holdings in Caesars Entertainment by 28.0% in the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after acquiring an additional 31,500 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Caesars Entertainment during the 3rd quarter worth approximately $2,998,000. 91.79% of the stock is currently owned by hedge funds and other 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.