Raymond James Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $49.00

Caesars Entertainment (NASDAQ:CZR) had its price objective lowered by Raymond James from $55.00 to $49.00 in a research note published on Wednesday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen decreased their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price target for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Truist Financial decreased their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, JMP Securities dropped their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment Trading Down 3.2 %

CZR opened at $27.36 on Wednesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -16.38 and a beta of 2.97. The business has a fifty day moving average price of $33.39 and a 200 day moving average price of $36.92. Caesars Entertainment has a 12 month low of $26.42 and a 12 month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Sell-side analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in CZR. Villere ST Denis J & Co. LLC lifted its position in Caesars Entertainment by 6.2% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock worth $26,877,000 after acquiring an additional 47,294 shares during the period. Guyasuta Investment Advisors Inc. purchased a new position in Caesars Entertainment in the 4th quarter valued at $385,000. Charles Schwab Investment Management Inc. increased its stake in Caesars Entertainment by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock valued at $62,728,000 after buying an additional 11,671 shares during the period. Wellington Management Group LLP raised its position in Caesars Entertainment by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock worth $4,734,000 after buying an additional 4,840 shares during the last quarter. Finally, Key Colony Management LLC acquired a new stake in shares of Caesars Entertainment in the 4th quarter worth $6,350,000. Hedge funds and other 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.