JMP Securities Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $62.00

Caesars Entertainment (NASDAQ:CZR) had its price target trimmed by JMP Securities from $65.00 to $62.00 in a report published on Friday, Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other brokerages have also recently issued reports on CZR. Barclays reduced their price objective on Caesars Entertainment from $67.00 to $65.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. StockNews.com cut Caesars Entertainment from a buy rating to a hold rating in a research note on Monday, January 1st. JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a report on Tuesday, January 9th. Susquehanna dropped their target price on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Finally, Morgan Stanley increased their target price on Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.73.

Caesars Entertainment Stock Up 0.6 %

NASDAQ:CZR opened at $38.20 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. The stock’s fifty day moving average is $41.75 and its two-hundred day moving average is $43.60. Caesars Entertainment has a 52 week low of $37.81 and a 52 week high of $60.27. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.52 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Research analysts anticipate that Caesars Entertainment will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aspire Private Capital LLC grew its holdings in shares of Caesars Entertainment by 172.8% during the fourth quarter. Aspire Private Capital LLC now owns 401 shares of the company’s stock worth $16,681,600,000 after buying an additional 254 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Caesars Entertainment in the third quarter valued at about $32,000. Altshuler Shaham Ltd acquired a new stake in Caesars Entertainment in the fourth quarter valued at about $45,000. Principal Securities Inc. acquired a new stake in Caesars Entertainment in the fourth quarter valued at about $46,000. Finally, Mather Group LLC. acquired a new stake in Caesars Entertainment in the first quarter valued at about $53,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.