JMP Securities Reaffirms “Market Outperform” Rating for Caesars Entertainment (NASDAQ:CZR)

Caesars Entertainment (NASDAQ:CZR)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a report released on Wednesday,Benzinga reports. They currently have a $45.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 65.44% from the company’s current price.

A number of other equities research analysts have also recently issued reports on CZR. Macquarie cut 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. JPMorgan Chase & Co. decreased their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Truist Financial cut their price target on Caesars Entertainment from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their target price on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Morgan Stanley reduced their price target on Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.64.

Caesars Entertainment Stock Up 0.5 %

Shares of NASDAQ:CZR opened at $27.20 on Wednesday. Caesars Entertainment has a 1-year low of $21.40 and a 1-year high of $45.93. The company’s fifty day moving average is $27.39 and its two-hundred day moving average is $33.82. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -16.29 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.73) earnings per share. Equities analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Caesars Entertainment by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after purchasing an additional 59,170 shares during the last quarter. Czech National Bank increased its holdings in shares of Caesars Entertainment by 4.6% in the fourth quarter. Czech National Bank now owns 46,079 shares of the company’s stock valued at $1,540,000 after buying an additional 2,009 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after acquiring an additional 1,697,443 shares during the last quarter. Key Colony Management LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $6,350,000. Finally, Aspire Private Capital LLC grew its holdings in shares of Caesars Entertainment by 48.3% in the 4th quarter. Aspire Private Capital LLC now owns 7,683 shares of the company’s stock worth $257,000 after acquiring an additional 2,503 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.