Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $53.00 at JMP Securities

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective cut by research analysts at JMP Securities from $57.00 to $53.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price objective suggests a potential upside of 59.06% from the company's current price.

A number of other research analysts have also weighed in on CZR. Morgan Stanley lifted their target price on Caesars Entertainment from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus raised their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. StockNews.com upgraded Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, Truist Financial reduced their target price on Caesars Entertainment from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.86.

Caesars Entertainment Stock Performance

Shares of CZR traded down $0.06 during trading hours on Thursday, hitting $33.32. The company's stock had a trading volume of 6,686,653 shares, compared to its average volume of 4,848,245. The business has a 50 day simple moving average of $35.95 and a two-hundred day simple moving average of $38.04. Caesars Entertainment has a 52-week low of $30.78 and a 52-week high of $47.99. 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 cap of $7.08 billion, a price-to-earnings ratio of -19.95 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The firm's quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts expect that Caesars Entertainment will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company's stock worth $116,000 after acquiring an additional 248 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company's stock valued at $144,000 after purchasing an additional 256 shares during the period. Private Advisor Group LLC grew its holdings in shares of Caesars Entertainment by 3.0% in the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company's stock worth $453,000 after purchasing an additional 317 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company's stock worth $84,000 after buying an additional 403 shares during the period. Finally, Fiduciary Family Office LLC raised its holdings in Caesars Entertainment by 1.7% during the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company's stock valued at $1,052,000 after buying an additional 424 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

About Caesars Entertainment

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.