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

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

Several other research analysts have also recently commented on CZR. Stifel Nicolaus boosted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company cut their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays cut their price objective on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $53.86.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $39.42 on Monday. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $50.51. The business has a 50-day moving average of $41.63 and a 200-day moving average of $38.37. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of -23.60 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Caesars Entertainment will post -0.56 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in CZR. Hsbc Holdings PLC grew its holdings in Caesars Entertainment by 42.7% in the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock worth $19,148,000 after buying an additional 145,201 shares in the last quarter. Comerica Bank grew its holdings in Caesars Entertainment by 345.0% in the 1st quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after buying an additional 83,231 shares in the last quarter. Entropy Technologies LP bought a new position in Caesars Entertainment in the 3rd quarter worth approximately $1,300,000. LMR Partners LLP bought a new position in Caesars Entertainment in the 3rd quarter worth approximately $903,000. Finally, Gabelli Funds LLC grew its holdings in Caesars Entertainment by 28.0% in the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after buying an additional 31,500 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.