Macquarie Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target cut by Macquarie from $47.00 to $46.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently weighed in on CZR. JMP Securities dropped their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Truist Financial dropped their price target 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. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays dropped their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group dropped their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.64.

Caesars Entertainment Trading Down 0.1 %

Shares of NASDAQ:CZR opened at $33.22 on Wednesday. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93. The stock has a market cap of $7.06 billion, a PE ratio of -19.89 and a beta of 2.90. The business has a 50 day moving average of $34.68 and a 200-day moving average of $37.81. 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 issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. As a group, equities research analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CZR. Raymond James & Associates increased its holdings in shares of Caesars Entertainment by 31.3% during the third quarter. Raymond James & Associates now owns 199,849 shares of the company’s stock worth $8,342,000 after buying an additional 47,691 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Caesars Entertainment by 3.0% during the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Caesars Entertainment by 48.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,772 shares of the company’s stock worth $699,000 after buying an additional 5,491 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Caesars Entertainment by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 25,111 shares of the company’s stock worth $1,048,000 after buying an additional 1,705 shares in the last quarter. Finally, Deltec Asset Management LLC increased its holdings in shares of Caesars Entertainment by 7.9% during the third quarter. Deltec Asset Management LLC now owns 415,903 shares of the company’s stock worth $17,360,000 after buying an additional 30,500 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.