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

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 lowered by Macquarie from $45.00 to $40.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on CZR. Stifel Nicolaus raised their target price on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Capital One Financial raised Caesars Entertainment from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. JPMorgan Chase & Co. raised their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, JMP Securities decreased their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.53.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded down $1.00 during midday trading on Wednesday, hitting $25.68. 7,822,694 shares of the stock traded hands, compared to its average volume of 5,481,769. The firm has a 50-day moving average of $28.37 and a two-hundred day moving average of $29.55. The firm has a market capitalization 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 quick ratio of 0.82 and a current ratio of 0.82. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93.

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 period in the previous year, the company earned ($0.56) earnings per share. Caesars Entertainment's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently bought and sold shares of CZR. JFS Wealth Advisors LLC grew 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 valued at $25,000 after purchasing an additional 722 shares in the last quarter. Mather Group LLC. grew 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 valued at $26,000 after purchasing an additional 405 shares in the last quarter. FIL Ltd purchased a new position in shares of Caesars Entertainment during the fourth quarter valued at about $28,000. UMB Bank n.a. grew 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 purchasing an additional 359 shares in the last quarter. Finally, Farther Finance Advisors LLC grew 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 valued at $32,000 after purchasing an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

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.