JMP Securities Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $57.00

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

A number of other analysts also recently issued reports on CZR. JPMorgan Chase & Co. increased their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays cut their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Susquehanna restated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Caesars Entertainment Trading Down 1.1 %

Shares of CZR stock opened at $38.25 on Monday. The firm’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $38.39. 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 firm has a market cap of $8.13 billion, a P/E ratio of -22.90 and a beta of 2.96.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CZR. Blue Trust Inc. grew its stake in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Huntington National Bank lifted its holdings in Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. acquired a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $51,000. GAMMA Investing LLC grew its position in shares of Caesars Entertainment by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at approximately $68,000. 91.79% of the stock is 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.