Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $43.00 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 target price decreased by JMP Securities from $45.00 to $43.00 in a research note released on Wednesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other research analysts have also weighed in on CZR. Morgan Stanley raised their price target on shares of Caesars Entertainment from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Susquehanna raised their price target on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 price target on the stock. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. Finally, Stifel Nicolaus raised their price target on shares of Caesars Entertainment from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment has a consensus rating of "Moderate Buy" and an average price target of $42.53.

Caesars Entertainment Trading Down 3.7%

NASDAQ CZR traded down $1.00 during mid-day trading on Wednesday, reaching $25.68. 7,822,694 shares of the stock were exchanged, compared to its average volume of 5,872,958. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93. The stock has a 50 day simple moving average of $28.37 and a 200-day simple moving average of $29.53. The stock has a market cap of $5.34 billion, a P/E ratio of -27.91 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81.

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

Institutional Inflows and Outflows

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