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

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by JMP Securities from $57.00 to $53.00 in a research report sent to investors on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial dropped their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average price target of $51.86.

Caesars Entertainment Stock Performance

Shares of CZR opened at $34.05 on Thursday. 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 one year low of $30.78 and a one year high of $47.99. The stock has a 50-day moving average of $35.65 and a 200-day moving average of $37.99. The company has a market cap of $7.23 billion, a PE ratio of -20.39 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion during 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%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. On average, equities research analysts predict that Caesars Entertainment will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Caesars Entertainment in the 2nd quarter valued at about $147,000. American Century Companies Inc. lifted its stake in Caesars Entertainment by 8.9% during the second quarter. American Century Companies Inc. now owns 14,270 shares of the company’s stock worth $567,000 after purchasing an additional 1,161 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Caesars Entertainment by 6.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 29,293 shares of the company’s stock worth $1,140,000 after purchasing an additional 1,873 shares during the period. Federated Hermes Inc. increased its stake in Caesars Entertainment by 28.3% during the second quarter. Federated Hermes Inc. now owns 134,814 shares of the company’s stock valued at $5,358,000 after purchasing an additional 29,705 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Caesars Entertainment by 47.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,552 shares of the company’s stock worth $618,000 after purchasing an additional 5,012 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Company Profile

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.