Caesars Entertainment (NASDAQ:CZR) Given New $43.00 Price Target at JMP Securities

Key Points

• Analysts at JMP Securities have reduced the target price for Caesars Entertainment from $45.00 to $43.00, maintaining a "market outperform" rating, which implies a potential upside of 51.77% from its current price.
• Despite the target price reduction, Caesars Entertainment received mixed reviews from other analysts, with Stifel Nicolaus raising their target to $45.00, while Susquehanna increased theirs to $28.00.
• Caesars reported a quarterly loss of ($0.39) EPS, missing estimates, though its revenue increased to $2.91 billion, exceeding analyst expectations of $2.85 billion.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its price target reduced by JMP Securities from $45.00 to $43.00 in a report published on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other research firms have also weighed in on CZR. Truist Financial dropped their price target on Caesars Entertainment from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Cfra reiterated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Friday, July 11th. Stifel Nicolaus lifted their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Barclays lowered their price objective on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday. Four investment 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 data from MarketBeat.com, Caesars Entertainment has an average rating of "Moderate Buy" and an average target price of $42.53.

Caesars Entertainment Stock Down 3.4%

Shares of NASDAQ CZR traded down $0.92 during mid-day trading on Wednesday, hitting $25.76. 1,319,176 shares of the stock traded hands, compared to its average volume of 5,475,424. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.82 and a current ratio of 0.82. Caesars Entertainment has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -27.86 and a beta of 2.29. The stock has a fifty day moving average price of $28.41 and a 200-day moving average price of $29.63.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released 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). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the firm earned ($0.56) earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FIL Ltd bought a new stake in shares of Caesars Entertainment in the fourth quarter worth $28,000. JFS Wealth Advisors LLC grew its holdings in shares of Caesars Entertainment by 508.5% in the second quarter. JFS Wealth Advisors LLC now owns 864 shares of the company's stock worth $25,000 after acquiring an additional 722 shares during the period. Mather Group LLC. grew its holdings in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company's stock worth $26,000 after acquiring an additional 405 shares during the period. UMB Bank n.a. grew its holdings in shares of Caesars Entertainment by 52.0% in the second quarter. UMB Bank n.a. now owns 1,049 shares of the company's stock worth $30,000 after acquiring an additional 359 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Caesars Entertainment by 168.5% in the second quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company's stock worth $32,000 after acquiring an additional 711 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

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.