Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $41.00 at JMP Securities

Key Points

• JMP Securities has lowered its price target for Caesars Entertainment from $43.00 to $41.00, indicating a potential upside of 58.34% based on the stock's previous close.
• Despite the price target reduction, the stock retains a "market outperform" rating from JMP Securities, while other analysts have issued mixed ratings ranging from "hold" to "strong buy."
• Caesars reported a loss of ($0.39) earnings per share for the last quarter, significantly missing analysts' expectations, though revenue was slightly above forecasts at $2.91 billion.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its target price reduced by research analysts at JMP Securities from $43.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' target price would suggest a potential upside of 58.34% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Cfra restated a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Susquehanna dropped their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Macquarie dropped their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, Morgan Stanley dropped their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.33.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $25.89 on Tuesday. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93. The company's 50-day moving average is $27.05 and its 200 day moving average is $27.32. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of -28.17 and a beta of 2.24. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its stake in Caesars Entertainment by 508.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company's stock valued at $25,000 after purchasing an additional 722 shares during the last quarter. Mather Group LLC. increased its stake in shares of Caesars Entertainment by 64.4% in the 1st 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 last quarter. UMB Bank n.a. increased its stake in shares of Caesars Entertainment by 52.0% in the 2nd 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 last quarter. Farther Finance Advisors LLC increased its stake in shares of Caesars Entertainment by 168.5% in the 2nd 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company's stock worth $33,000 after acquiring an additional 478 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.

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