JMP Securities Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its target price cut by investment analysts at JMP Securities from $59.00 to $57.00 in a report issued on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 47.36% from the company’s previous close.

Several other equities research analysts have also commented on CZR. Jefferies Financial Group cut their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barclays cut their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Susquehanna reissued a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $38.68 on Monday. The company’s fifty day moving average price is $41.63 and its 200 day moving average price is $38.37. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51. 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 firm has a market capitalization of $8.22 billion, a P/E ratio of -23.09 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in CZR. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 499 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after acquiring an additional 833 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment in the third quarter valued at about $51,000. GAMMA Investing LLC boosted its holdings in shares of Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after acquiring an additional 622 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Caesars Entertainment in the third quarter valued at about $68,000. Hedge funds and other institutional investors 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.