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

Caesars Entertainment (NASDAQ:CZR) had its price objective cut by JMP Securities from $62.00 to $60.00 in a research report released on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

CZR has been the subject of several other research reports. Morgan Stanley raised their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. TD Cowen dropped their price target on Caesars Entertainment from $53.00 to $50.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus decreased their price objective on Caesars Entertainment from $67.00 to $54.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Truist Financial reduced their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays cut their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating for the company in a research note on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has an average rating of Moderate Buy and a consensus price target of $53.83.

Caesars Entertainment Price Performance

CZR opened at $35.33 on Thursday. The firm has a 50-day moving average price of $40.67 and a 200-day moving average price of $43.08. Caesars Entertainment has a twelve month low of $35.09 and a twelve month high of $60.27. The company has a quick ratio of 0.74, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that Caesars Entertainment will post 0.23 EPS for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Caesars Entertainment by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after purchasing an additional 148,034 shares during the period. Capital World Investors raised its stake in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares in the last quarter. HG Vora Capital Management LLC lifted its holdings in Caesars Entertainment by 2.0% in the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after buying an additional 100,000 shares during the period. Invesco Ltd. boosted its position in Caesars Entertainment by 8.7% during the 3rd quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after acquiring an additional 293,078 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $102,213,000. 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.