Macquarie Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $40.00

Key Points

• Macquarie analysts have lowered Caesars Entertainment's price target from $45.00 to $40.00, while maintaining an "outperform" rating, indicating a potential upside of 43.14% from its current price.
• The stock recently traded down 1.8% to $27.95, with institutional investors holding 91.79% of the company's shares and several firms adjusting their price targets in recent months.
• Caesars reported a quarterly EPS of ($0.39), falling short of analysts' expectations of $0.07, but showed a 2.7% increase in revenue compared to the same quarter last year.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its target price cut by Macquarie from $45.00 to $40.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus raised their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Cfra reiterated a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Friday, July 11th. Truist Financial lowered their target price on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Barclays lowered their target price on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Wednesday. Four 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.53.

Caesars Entertainment Trading Down 3.1%

Caesars Entertainment stock traded down $0.82 during trading hours on Wednesday, hitting $25.86. The stock had a trading volume of 1,994,744 shares, compared to its average volume of 5,483,881. The business's 50 day simple moving average is $28.41 and its 200-day simple moving average is $29.63. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of -27.90 and a beta of 2.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced 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). 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 analyst estimates of $2.85 billion. During the same period in the previous year, the business posted ($0.56) earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Caesars Entertainment by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,548,822 shares of the company's stock worth $588,721,000 after purchasing an additional 183,963 shares during the last quarter. Capital Research Global Investors boosted its position in Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock worth $662,088,000 after purchasing an additional 2,555,876 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Caesars Entertainment by 14.8% during the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after buying an additional 1,882,728 shares during the last quarter. Invesco Ltd. lifted its position in shares of Caesars Entertainment by 22.9% during the 1st quarter. Invesco Ltd. now owns 6,823,286 shares of the company's stock valued at $170,582,000 after buying an additional 1,269,911 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of Caesars Entertainment by 20.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 4,196,893 shares of the company's stock valued at $120,199,000 after buying an additional 700,978 shares during the last quarter. 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.