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

Key Points

• Analysts at Barclays have cut the price target for Caesars Entertainment from $45.00 to $43.00, maintaining an "overweight" rating, indicating potential upside of 51.77% from the current stock price.
• Caesars recently reported a quarterly loss of $0.39 EPS, which is significantly lower than the consensus estimate of $0.07 EPS, alongside a revenue of $2.91 billion.
• The stock has an average rating of "Moderate Buy" from analysts, with a mean target price of $43.07 based on various updates from multiple investment firms.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its price target lowered by Barclays from $45.00 to $43.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on CZR. JMP Securities set a $45.00 target price on shares of Caesars Entertainment in a research report on Friday, July 18th. Truist Financial decreased their target price on shares of Caesars Entertainment from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Stifel Nicolaus increased their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday. Susquehanna increased their price target on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group started coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 price target for the company. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $42.53.

Caesars Entertainment Stock Down 3.7%

Shares of CZR stock traded down $1.00 during trading hours on Wednesday, hitting $25.68. 7,822,694 shares of the company were exchanged, compared to its average volume of 5,872,958. The business has a 50 day moving average of $28.37 and a two-hundred day moving average of $29.53. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. Caesars Entertainment has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a market capitalization of $5.34 billion, a PE ratio of -27.91 and a beta of 2.40.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.56) EPS. Analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cannell Capital LLC bought a new stake in Caesars Entertainment during the 4th quarter worth approximately $13,498,000. Russell Investments Group Ltd. lifted its position in shares of Caesars Entertainment by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock worth $26,840,000 after purchasing an additional 38,505 shares during the period. Bryce Point Capital LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $504,000. Khrom Capital Management LLC acquired a new position in shares of Caesars Entertainment in the 4th quarter worth approximately $16,191,000. Finally, DAVENPORT & Co LLC lifted its position in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock worth $87,399,000 after purchasing an additional 3,192,224 shares during the period. 91.79% of the stock is owned by institutional investors.

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.