Barclays Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $57.00

Caesars Entertainment (NASDAQ:CZR) had its price target dropped by analysts at Barclays from $59.00 to $57.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 42.32% from the stock’s previous close.

CZR has been the subject of several other reports. Susquehanna reiterated a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company decreased their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley increased their price target on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Trading Down 3.6 %

Shares of Caesars Entertainment stock opened at $40.05 on Wednesday. The stock has a market cap of $8.66 billion, a P/E ratio of -23.98 and a beta of 2.97. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $50.51. The business’s 50 day moving average is $41.00 and its 200-day moving average is $38.17.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Equities research analysts predict that Caesars Entertainment will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Caesars Entertainment by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after acquiring an additional 75,898 shares in the last quarter. Capital Research Global Investors raised its stake in Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares in the last quarter. Janus Henderson Group PLC raised its stake in Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after purchasing an additional 233,250 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 1.0% during the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock worth $232,847,000 after purchasing an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP grew its stake in Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after buying an additional 1,700,000 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.