Caesars Entertainment (NASDAQ:CZR) Given New $46.00 Price Target at Macquarie

Caesars Entertainment (NASDAQ:CZR) had its target price cut by research analysts at Macquarie from $47.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective suggests a potential upside of 31.92% from the stock’s previous close.

A number of other brokerages have also issued reports on CZR. Jefferies Financial Group decreased their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Barclays lowered their price objective on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus dropped their target price on 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 Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, JMP Securities dropped their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.86.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $34.87 on Wednesday. Caesars Entertainment has a fifty-two week low of $30.78 and a fifty-two week high of $45.93. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -20.88 and a beta of 2.90. The stock has a fifty day moving average of $34.67 and a two-hundred day moving average of $37.87. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

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

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors have recently bought and sold shares of the business. FIL Ltd purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at $28,000. Bogart Wealth LLC increased its holdings in Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares in the last quarter. Huntington National Bank raised its position in Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after purchasing an additional 833 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Caesars Entertainment during the fourth quarter worth about $44,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of 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 buying an additional 800 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.