Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $62.00

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by JMP Securities from $65.00 to $62.00 in a report issued on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 63.24% from the company’s current price.

Several other equities research analysts also recently weighed in on CZR. JPMorgan Chase & Co. lowered their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th. Wells Fargo & Company decreased their target price on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Morgan Stanley lifted their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays decreased their target price on Caesars Entertainment from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Stifel Nicolaus decreased their target price on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.91.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $37.98 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The company has a market cap of $8.22 billion, a P/E ratio of 10.46 and a beta of 2.81. The stock’s 50-day moving average is $41.88 and its 200 day moving average is $43.66. Caesars Entertainment has a 1-year low of $37.87 and a 1-year high of $60.27.

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

Insider Transactions at Caesars Entertainment

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

Institutional Trading of Caesars Entertainment

Several large investors have recently made changes to their positions in CZR. Raymond James Financial Services Advisors Inc. increased its position in shares of Caesars Entertainment by 6.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,298 shares of the company’s stock worth $797,000 after purchasing an additional 666 shares in the last quarter. American Century Companies Inc. grew its holdings in Caesars Entertainment by 10.8% in the 1st quarter. American Century Companies Inc. now owns 9,416 shares of the company’s stock valued at $728,000 after buying an additional 914 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in Caesars Entertainment in the 1st quarter valued at $268,000. PNC Financial Services Group Inc. grew its holdings in Caesars Entertainment by 32.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,526 shares of the company’s stock valued at $351,000 after buying an additional 1,119 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Caesars Entertainment by 2.4% in the 1st quarter. Panagora Asset Management Inc. now owns 9,874 shares of the company’s stock valued at $764,000 after buying an additional 236 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.