Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $43.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus has lowered its price target for Caesars Entertainment from $45.00 to $43.00, while maintaining a "buy" rating, indicating a potential upside of 83.92% from the stock's previous close.
• Caesars Entertainment's stock experienced a decline of 5.2%, trading at $23.38, as analysts project a -0.77 EPS for the current fiscal year following a recent earnings miss.
• Institutional investors own approximately 91.79% of Caesars Entertainment, with several hedge funds recently increasing their positions in the company.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its target price cut by Stifel Nicolaus from $45.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 83.92% from the stock's previous close.

A number of other research firms have also recently commented on CZR. JMP Securities lowered their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set a "market outperform" rating for the company in a research report on Tuesday, September 16th. JPMorgan Chase & Co. increased their price target on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley dropped their price objective on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Truist Financial decreased their price target on shares of Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Finally, Zacks Research lowered Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.20.

Caesars Entertainment Stock Down 5.2%

Shares of NASDAQ CZR traded down $1.27 during trading on Wednesday, reaching $23.38. 11,485,097 shares of the stock were exchanged, compared to its average volume of 10,078,163. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. Caesars Entertainment has a twelve month low of $21.40 and a twelve month high of $45.93. The business's 50-day moving average price is $25.82 and its 200 day moving average price is $27.05. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of -25.41 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its 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 business had revenue of $2.91 billion during 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. As a group, equities analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. boosted its position in shares of Caesars Entertainment by 2.3% during the second quarter. Vontobel Holding Ltd. now owns 15,795 shares of the company's stock valued at $448,000 after buying an additional 356 shares during the last quarter. UMB Bank n.a. raised 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 valued at $30,000 after buying an additional 359 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after purchasing an additional 405 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Caesars Entertainment by 1.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company's stock worth $728,000 after buying an additional 476 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of Caesars Entertainment by 35.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after purchasing an additional 477 shares in the last quarter. 91.79% of the stock is currently 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.

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