Raymond James Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $49.00

Caesars Entertainment (NASDAQ:CZR) had its price objective lowered by stock analysts at Raymond James from $55.00 to $49.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 71.24% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. JMP Securities lowered their target price on 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. TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Stifel Nicolaus cut their target price on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Macquarie cut their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.00.

Caesars Entertainment Trading Up 3.8 %

NASDAQ:CZR traded up $1.06 during mid-day trading on Wednesday, reaching $28.62. The company’s stock had a trading volume of 635,754 shares, compared to its average volume of 4,323,520. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market cap of $6.07 billion, a P/E ratio of -17.11 and a beta of 2.97. The company’s fifty day simple moving average is $33.60 and its two-hundred day simple moving average is $37.11. Caesars Entertainment has a twelve month low of $26.42 and a twelve month high of $45.93.

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, topping the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. On average, equities analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. American Assets Investment Management LLC bought a new stake in Caesars Entertainment in the fourth quarter worth approximately $318,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Caesars Entertainment in the fourth quarter worth $14,599,000. American Trust increased its position in Caesars Entertainment by 8.7% during the fourth quarter. American Trust now owns 7,505 shares of the company’s stock worth $251,000 after buying an additional 601 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Caesars Entertainment by 52.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock valued at $366,000 after buying an additional 3,764 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Caesars Entertainment by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 85,118 shares of the company’s stock valued at $2,845,000 after acquiring an additional 920 shares in the last quarter. 91.79% of the stock is 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.