JMP Securities Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $60.00

Caesars Entertainment (NASDAQ:CZR) had its target price lowered by research analysts at JMP Securities from $62.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 69.83% from the company’s current price.

A number of other research firms have also recently commented on CZR. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays decreased their target price on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. JPMorgan Chase & Co. cut their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Morgan Stanley boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Truist Financial cut their target price on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.83.

Caesars Entertainment Stock Up 0.5 %

Shares of Caesars Entertainment stock opened at $35.33 on Thursday. The stock’s 50-day moving average is $40.67 and its 200 day moving average is $43.09. Caesars Entertainment has a one year low of $35.09 and a one year high of $60.27. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.74.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. Caesars Entertainment’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Equities research analysts anticipate that Caesars Entertainment will post 1.02 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram bought 15,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the acquisition, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently modified their holdings of CZR. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Caesars Entertainment in the third quarter worth $32,000. Altshuler Shaham Ltd bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $45,000. Principal Securities Inc. purchased a new position in shares of Caesars Entertainment in the 4th quarter worth about $46,000. Mather Group LLC. bought a new position in Caesars Entertainment during the first quarter valued at about $53,000. Finally, TFO Wealth Partners LLC increased its holdings in Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares during the last quarter. 91.79% of the stock is 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.