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

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by equities researchers at JMP Securities from $41.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 86.48% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Stifel Nicolaus lowered their price target on Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Cfra restated a “hold” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Friday, July 11th. Finally, Truist Financial reduced their price objective on Caesars Entertainment from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Caesars Entertainment Trading Down 1.3%

NASDAQ CZR opened at $21.45 on Friday. The firm has a market capitalization of $4.46 billion, a P/E ratio of -23.31 and a beta of 2.38. The business has a fifty day simple moving average of $25.39 and a 200 day simple moving average of $26.84. Caesars Entertainment has a 12 month low of $21.40 and a 12 month high of $45.88. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.46). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.56) earnings per share. On average, analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CZR. Yousif Capital Management LLC grew its stake in shares of Caesars Entertainment by 5.5% during the 1st quarter. Yousif Capital Management LLC now owns 19,661 shares of the company’s stock worth $492,000 after acquiring an additional 1,032 shares during the period. GAMMA Investing LLC grew its stake in shares of Caesars Entertainment by 106.8% during the 1st quarter. GAMMA Investing LLC now owns 3,987 shares of the company’s stock worth $100,000 after acquiring an additional 2,059 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Caesars Entertainment by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 24,891 shares of the company’s stock worth $622,000 after acquiring an additional 665 shares during the period. Retirement Systems of Alabama grew its stake in shares of Caesars Entertainment by 80.0% during the 1st quarter. Retirement Systems of Alabama now owns 849,336 shares of the company’s stock worth $21,233,000 after acquiring an additional 377,536 shares during the period. Finally, Osborne Partners Capital Management LLC grew its stake in shares of Caesars Entertainment by 4.4% during the 1st quarter. Osborne Partners Capital Management LLC now owns 346,426 shares of the company’s stock worth $8,661,000 after acquiring an additional 14,482 shares during the period. 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.