Caesars Entertainment (NASDAQ:CZR) Earns "Outperform" Rating from Macquarie

Caesars Entertainment (NASDAQ:CZR - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Macquarie in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $50.00 price target on the stock. Macquarie's price objective suggests a potential upside of 20.29% from the stock's previous close.

A number of other research analysts also recently issued reports on CZR. Barclays decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Wednesday. Susquehanna reissued a "negative" rating and issued a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on Caesars Entertainment from $62.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Morgan Stanley increased their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Finally, StockNews.com cut Caesars Entertainment from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Caesars Entertainment Stock Down 8.2 %

CZR stock traded down $3.72 during midday trading on Wednesday, hitting $41.57. The company's stock had a trading volume of 10,647,666 shares, compared to its average volume of 4,166,162. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The firm has a 50-day simple moving average of $40.90 and a 200-day simple moving average of $38.14. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The firm has a market capitalization of $9.00 billion, a P/E ratio of 11.77 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.93 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. Caesars Entertainment's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, equities analysts forecast that Caesars Entertainment will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company's stock valued at $26,000 after purchasing an additional 499 shares during the period. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment in the third quarter valued at approximately $51,000. GAMMA Investing LLC grew its holdings in Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $64,000 after acquiring an additional 622 shares during the period. Signaturefd LLC raised its position in Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company's stock worth $101,000 after acquiring an additional 1,105 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Caesars Entertainment in the first quarter valued at $150,000. Hedge funds and other institutional investors own 91.79% of the company's stock.

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.