Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $60.00 by Analysts at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by JMP Securities from $62.00 to $60.00 in a research report released on Thursday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Caesars Entertainment from $62.00 to $59.00 and set a buy rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. dropped their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an overweight rating for the company in a research report on Tuesday, January 9th. Wells Fargo & Company lowered their target price on Caesars Entertainment from $67.00 to $54.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Susquehanna lowered their price objective on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, Truist Financial reduced their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $53.83.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $35.33 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.74. The stock’s fifty day simple moving average is $40.67 and its 200 day simple moving average is $43.08. Caesars Entertainment has a one year low of $35.09 and a one year high of $60.27. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. On average, analysts expect that Caesars Entertainment will post 0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Caesars Entertainment news, Director Michael E. Pegram bought 15,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now owns 4,612 shares in the company, valued at $191,167.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Institutional investors have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Caesars Entertainment by 270.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock worth $1,239,000 after buying an additional 20,692 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Caesars Entertainment during the 1st quarter worth approximately $150,000. Daiwa Securities Group Inc. raised its holdings in shares of Caesars Entertainment by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 21,288 shares of the company’s stock valued at $931,000 after purchasing an additional 2,221 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Caesars Entertainment by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 43,129 shares of the company’s stock valued at $1,886,000 after purchasing an additional 3,657 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Caesars Entertainment by 14.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,292 shares of the company’s stock worth $1,194,000 after purchasing an additional 3,474 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors.

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.