Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $55.00 at Barclays

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by analysts at Barclays from $57.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 48.45% from the company’s previous close.

Several other brokerages also recently issued reports on CZR. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Macquarie reaffirmed an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities lowered their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their price target on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $53.71.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded down $0.76 on Friday, hitting $37.05. The company had a trading volume of 890,557 shares, compared to its average volume of 4,106,842. The company has a market cap of $7.87 billion, a PE ratio of -22.26 and a beta of 2.89. The business has a 50 day moving average of $40.73 and a 200 day moving average of $38.57. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in Caesars Entertainment by 42.7% during the second quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after buying an additional 145,201 shares in the last quarter. Entropy Technologies LP acquired a new position in Caesars Entertainment in the 3rd quarter valued at approximately $1,300,000. LMR Partners LLP purchased a new stake in shares of Caesars Entertainment during the third quarter worth $903,000. Gabelli Funds LLC raised its stake in shares of Caesars Entertainment by 28.0% during the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after purchasing an additional 31,500 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Caesars Entertainment during the 3rd quarter worth $2,998,000. Institutional investors and hedge funds 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.