Barclays Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $43.00

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 objective trimmed by Barclays from $45.00 to $43.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CZR has been the topic of several other reports. Morgan Stanley upped their price target on Caesars Entertainment from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Capital One Financial raised Caesars Entertainment from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a report on Monday, July 7th. They set a "buy" rating and a $36.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $42.53.

Caesars Entertainment Trading Down 3.7%

Shares of NASDAQ CZR traded down $1.00 during mid-day trading on Wednesday, hitting $25.68. 7,822,694 shares of the company traded hands, compared to its average volume of 5,481,769. Caesars Entertainment has a 1 year low of $21.40 and a 1 year high of $45.93. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of -27.91 and a beta of 2.40. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The business has a 50 day moving average of $28.37 and a two-hundred day moving average of $29.58.

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

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors have recently made changes to their positions in the stock. Cannell Capital LLC acquired a new stake in shares of Caesars Entertainment during the fourth quarter worth $13,498,000. Russell Investments Group Ltd. grew its stake in shares of Caesars Entertainment by 5.0% during the fourth 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 stake in shares of Caesars Entertainment during the fourth quarter worth $504,000. Khrom Capital Management LLC acquired a new position in Caesars Entertainment in the fourth quarter valued at about $16,191,000. Finally, DAVENPORT & Co LLC grew its stake in Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after acquiring an additional 3,192,224 shares during the period. 91.79% of the stock is 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.