Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $46.00 by Analysts at Macquarie

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by Macquarie from $47.00 to $46.00 in a research report sent to investors on Wednesday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on CZR. Jefferies Financial Group cut their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. TD Cowen cut their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. JMP Securities decreased their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Barclays dropped their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Truist Financial decreased their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.64.

Caesars Entertainment Trading Down 0.9 %

CZR stock opened at $34.56 on Wednesday. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of -20.69 and a beta of 2.90. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment has a 1-year low of $30.78 and a 1-year high of $45.93. The business has a 50 day simple moving average of $34.68 and a two-hundred day simple moving average of $37.84.

Caesars Entertainment (NASDAQ:CZR) last posted its 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 net margin of 3.20% and a negative return on equity of 4.44%. Research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors grew its position in Caesars Entertainment by 14.8% in the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after acquiring an additional 2,555,876 shares during the last quarter. Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter valued at $75,058,000. Janus Henderson Group PLC grew its holdings in shares of Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Cohen & Steers Inc. increased its stake in Caesars Entertainment by 14.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after buying an additional 1,882,728 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Caesars Entertainment during the 4th quarter valued at about $57,629,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.