Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $51.00 by Analysts at Stifel Nicolaus

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by equities researchers at Stifel Nicolaus from $54.00 to $51.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 48.73% from the stock’s previous close.

CZR has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Truist Financial reduced their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their target price 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. Barclays reduced their target price on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $51.36.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.53 during mid-day trading on Thursday, reaching $34.29. The stock had a trading volume of 226,383 shares, compared to its average volume of 4,591,087. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of -20.46 and a beta of 2.90. Caesars Entertainment has a 12 month low of $30.78 and a 12 month high of $46.69. The business has a fifty day moving average of $35.32 and a 200 day moving average of $37.91. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last issued its 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 the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $0.34 EPS. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. Equities analysts predict that Caesars Entertainment will post -0.58 EPS for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank boosted 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 acquiring an additional 833 shares during the period. UMB Bank n.a. purchased a new position in Caesars Entertainment in the 3rd quarter valued at $51,000. Quarry LP purchased a new position in Caesars Entertainment in the 3rd quarter valued at $68,000. Avior Wealth Management LLC grew its position in Caesars Entertainment by 12,577.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,282 shares of the company’s stock valued at $76,000 after buying an additional 2,264 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after acquiring an additional 403 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.