Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $59.00

Caesars Entertainment (NASDAQ:CZR) had its target price upped by Barclays from $56.00 to $59.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on CZR. JMP Securities reissued a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Stifel Nicolaus boosted their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered their price objective 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. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Susquehanna reiterated a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $54.38.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $45.18 on Thursday. Caesars Entertainment has a one year low of $31.74 and a one year high of $50.51. The stock has a 50-day moving average of $39.77 and a 200 day moving average of $38.12. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 12.80 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that Caesars Entertainment will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Several large investors have recently made changes to their positions in CZR. Raymond James & Associates grew its position in shares of Caesars Entertainment by 31.3% during the third quarter. Raymond James & Associates now owns 199,849 shares of the company’s stock worth $8,342,000 after purchasing an additional 47,691 shares in the last quarter. nVerses Capital LLC purchased a new stake in Caesars Entertainment during the 3rd quarter valued at approximately $522,000. UMB Bank n.a. bought a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $51,000. CWM LLC lifted its holdings in shares of Caesars Entertainment by 92.0% in the third quarter. CWM LLC now owns 4,993 shares of the company’s stock worth $208,000 after buying an additional 2,392 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after acquiring an additional 403 shares during 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.