Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $57.00 by Analysts at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its price objective cut by JMP Securities from $59.00 to $57.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other research firms have also recently weighed in on CZR. JPMorgan Chase & Co. increased their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered 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. Finally, Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $53.86.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $38.25 on Monday. The company has a market cap of $8.13 billion, a P/E ratio of -22.90 and a beta of 2.96. The business has a 50 day moving average of $41.60 and a two-hundred day moving average of $38.39. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $50.51. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts anticipate that Caesars Entertainment will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its stake 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 in the last quarter. Comerica Bank increased its position in shares of Caesars Entertainment by 345.0% in the first quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after acquiring an additional 83,231 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $1,300,000. LMR Partners LLP acquired a new position in Caesars Entertainment in the 3rd quarter worth approximately $903,000. Finally, Gabelli Funds LLC grew its position in Caesars Entertainment by 28.0% during the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after purchasing an additional 31,500 shares in the last quarter. Institutional investors and hedge funds 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.