Stifel Nicolaus Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective lowered by investment analysts at Stifel Nicolaus from $43.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 98.50% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. JMP Securities reduced their price target on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 17th. Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Truist Financial reduced their price target on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday. Citizens Jmp reduced their price target on Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price target on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Caesars Entertainment Trading Down 0.5%

CZR stock opened at $18.64 on Wednesday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.81 and a current ratio of 0.78. The company’s 50-day simple moving average is $24.76 and its 200 day simple moving average is $26.64. Caesars Entertainment has a 52 week low of $18.25 and a 52 week high of $41.77. The company has a market capitalization of $3.88 billion, a PE ratio of -16.21 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share. As a group, sell-side analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently modified their holdings of CZR. DAVENPORT & Co LLC boosted its holdings in shares of Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment in the 2nd quarter valued at $79,604,000. Hein Park Capital Management LP bought a new position in shares of Caesars Entertainment in the 1st quarter valued at $60,492,000. HG Vora Capital Management LLC lifted its stake in shares of Caesars Entertainment by 73.3% in the 1st quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after acquiring an additional 1,650,000 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of Caesars Entertainment by 654.5% in the 2nd quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock valued at $50,747,000 after acquiring an additional 1,550,589 shares during the last quarter. Institutional investors and hedge funds 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.