Caesars Entertainment (NASDAQ:CZR) Rating Reiterated by JMP Securities

JMP Securities restated their market outperform rating on shares of Caesars Entertainment (NASDAQ:CZR) in a research note published on Monday, Benzinga reports. They currently have a $59.00 price target on the stock.

A number of other brokerages have also commented on CZR. Morgan Stanley cut their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Susquehanna reissued a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.38.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $45.55 on Monday. The stock has a market cap of $9.86 billion, a PE ratio of 12.90 and a beta of 2.97. The firm has a 50-day moving average of $39.58 and a 200-day moving average of $38.10. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Caesars Entertainment will post -0.16 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in CZR. Capital Research Global Investors grew its position in shares of Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after buying an additional 3,289,748 shares during the last quarter. Nut Tree Capital Management LP raised its position in Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after buying an additional 1,700,000 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares during the period. SG Americas Securities LLC boosted its stake in shares of Caesars Entertainment by 6,568.4% in the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after buying an additional 1,418,318 shares during the last quarter. Finally, Helikon Investments Ltd acquired a new stake in shares of Caesars Entertainment during the 2nd quarter worth approximately $37,763,000. 91.79% of the stock is currently owned by 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.