JMP Securities Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by investment analysts at JMP Securities from $53.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 76.36% from the stock’s previous close.

Several other brokerages have also recently commented on CZR. Stifel Nicolaus reduced their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. TD Cowen decreased their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Truist Financial lowered their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Susquehanna reduced their target price on Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Macquarie decreased their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

Caesars Entertainment Stock Up 3.1 %

Caesars Entertainment stock opened at $25.52 on Thursday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -15.28 and a beta of 2.67. The firm has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $34.87. Caesars Entertainment has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.20. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. On average, analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC raised its stake in shares of Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares in the last quarter. FIL Ltd bought a new position in shares of Caesars Entertainment during the 4th quarter valued at $28,000. Resona Asset Management Co. Ltd. purchased a new position in Caesars Entertainment in the 4th quarter worth $44,000. Canada Pension Plan Investment Board lifted its stake in Caesars Entertainment by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after purchasing an additional 800 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Caesars Entertainment during the fourth quarter valued at about $71,000. 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.