Macquarie Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target cut by equities research analysts at Macquarie from $47.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 31.92% from the company’s current price.

A number of other analysts have also recently weighed in on CZR. TD Cowen dropped their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Truist Financial dropped their price objective on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays reduced their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.86.

Caesars Entertainment Trading Down 0.5 %

Shares of CZR opened at $34.87 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a one year low of $30.78 and a one year high of $45.93. The stock has a 50-day moving average price of $34.67 and a 200 day moving average price of $37.87. The company has a market capitalization of $7.41 billion, a P/E ratio of -20.88 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Sell-side analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its position in shares of Caesars Entertainment by 31.3% during the third quarter. Raymond James & Associates now owns 199,849 shares of the company’s stock worth $8,342,000 after purchasing an additional 47,691 shares in the last quarter. Private Advisor Group LLC raised its position in Caesars Entertainment by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after purchasing an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Caesars Entertainment by 48.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,772 shares of the company’s stock worth $699,000 after buying an additional 5,491 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Caesars Entertainment by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,111 shares of the company’s stock valued at $1,048,000 after buying an additional 1,705 shares during the last quarter. Finally, Deltec Asset Management LLC increased its stake in shares of Caesars Entertainment by 7.9% in the 3rd quarter. Deltec Asset Management LLC now owns 415,903 shares of the company’s stock valued at $17,360,000 after buying an additional 30,500 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.