Caesars Entertainment (NASDAQ:CZR) PT Lowered to $60.00

Caesars Entertainment (NASDAQ:CZR) had its target price reduced by analysts at JMP Securities from $62.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 69.83% from the company’s previous close.

A number of other brokerages have also commented on CZR. Barclays lowered their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Stifel Nicolaus cut their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, January 9th. Susquehanna reduced their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Finally, Morgan Stanley upped their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR 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 business’s fifty day moving average price is $40.67 and its two-hundred day moving average price is $43.09. Caesars Entertainment has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. As a group, analysts predict that Caesars Entertainment will post 1.02 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CZR. Norges Bank acquired a new position in Caesars Entertainment during the fourth quarter valued at approximately $102,213,000. AQR Capital Management LLC grew its stake in shares of Caesars Entertainment by 938.7% in the third quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after buying an additional 942,621 shares in the last quarter. Capital World Investors increased its holdings in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Caesars Entertainment by 481.7% in the third quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after acquiring an additional 751,938 shares during the last quarter. Finally, Blackstone Inc. acquired a new stake in Caesars Entertainment in the third quarter valued at $34,762,000. Institutional investors and hedge funds 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.