Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $54.00 by Analysts at Barclays

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by Barclays from $55.00 to $54.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently commented on CZR. Wells Fargo & Company decreased their price target on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Macquarie reiterated an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Jefferies Financial Group lowered their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus cut their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, TD Cowen decreased their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $50.64.

Caesars Entertainment Price Performance

CZR stock opened at $34.56 on Wednesday. The business’s fifty day moving average price is $34.68 and its 200 day moving average price is $37.84. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93. The company has a market capitalization of $7.34 billion, a PE ratio of -20.69 and a beta of 2.90. 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. On average, sell-side analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds have recently added to or reduced their stakes in CZR. Bogart Wealth LLC lifted its position in shares of Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 800 shares during the last quarter. FIL Ltd acquired a new stake in Caesars Entertainment during the 4th quarter worth $28,000. Huntington National Bank lifted 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 acquiring an additional 833 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Caesars Entertainment in the fourth quarter valued at $44,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after purchasing an additional 800 shares during the last quarter. 91.79% of the stock is currently 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.