Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $60.00

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by equities researchers at JMP Securities from $62.00 to $60.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 68.07% from the company’s previous close.

CZR has been the topic of a number of other research reports. Stifel Nicolaus decreased their price target on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th. TD Cowen reduced their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Truist Financial lowered their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded down $0.68 on Thursday, reaching $35.70. 2,461,170 shares of the company’s stock were exchanged, compared to its average volume of 3,351,914. Caesars Entertainment has a twelve month low of $35.12 and a twelve month high of $60.27. The company has a fifty day moving average of $40.92 and a 200-day moving average of $43.20. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 10.09 and a beta of 2.83. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly 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 company 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 1.26% and a net margin of 6.68%. The company’s quarterly 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. On average, research analysts predict that Caesars Entertainment will post 1.02 EPS for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at about $32,000. Altshuler Shaham Ltd acquired a new position in shares of Caesars Entertainment in the fourth quarter worth approximately $45,000. Principal Securities Inc. bought a new stake in Caesars Entertainment in the fourth quarter valued at approximately $46,000. Mather Group LLC. acquired a new stake in Caesars Entertainment during the 1st quarter valued at approximately $53,000. Finally, TFO Wealth Partners LLC raised its holdings in Caesars Entertainment by 22,920.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after purchasing an additional 1,146 shares during 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.