Jefferies Financial Group Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by Jefferies Financial Group from $52.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 boosted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.43.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $32.51 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The business has a 50 day moving average of $37.35 and a two-hundred day moving average of $38.38. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $47.99. The company has a market cap of $6.91 billion, a P/E ratio of -19.47 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data 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 business had revenue of $2.87 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that Caesars Entertainment will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Huntington National Bank increased its holdings in shares of Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Caesars Entertainment in the third quarter valued at $51,000. Quarry LP acquired a new stake in Caesars Entertainment during the 3rd quarter valued at $68,000. GAMMA Investing LLC raised its stake in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Signaturefd LLC raised its stake in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. 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.