Caesars Entertainment (NASDAQ:CZR) Given New $62.00 Price Target at JMP Securities

Caesars Entertainment (NASDAQ:CZR) had its price target trimmed by JMP Securities from $65.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

CZR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price target on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating for the company in a research report on Tuesday, January 9th. Susquehanna lowered their price target on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Stifel Nicolaus lowered their price target on Caesars Entertainment from $70.00 to $67.00 and set a buy rating for the company in a research report on Thursday, January 18th. Finally, Morgan Stanley increased their price target on Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of Moderate Buy and an average target price of $57.73.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $38.20 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. Caesars Entertainment has a twelve month low of $37.81 and a twelve month high of $60.27. The stock’s 50 day moving average is $41.75 and its 200-day moving average is $43.60. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.52 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned ($0.11) earnings per share. Caesars Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts forecast that Caesars Entertainment will post 1.07 EPS for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the purchase, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Caesars Entertainment by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after purchasing an additional 148,034 shares during the period. BlackRock Inc. boosted its stake in Caesars Entertainment by 3.9% in the 1st quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock worth $880,465,000 after purchasing an additional 676,512 shares during the period. Capital World Investors boosted its stake in Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares during the period. Point Break Capital Management LLC boosted its stake in Caesars Entertainment by 10.3% in the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock worth $821,396,000 after purchasing an additional 987,230 shares during the period. Finally, State Street Corp boosted its stake in Caesars Entertainment by 4.4% in the 2nd quarter. State Street Corp now owns 7,883,415 shares of the company’s stock worth $401,818,000 after purchasing an additional 329,604 shares during the period. Institutional investors 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.