Caesars Entertainment’s (CZR) Outperform Rating Reaffirmed at Macquarie

Caesars Entertainment (NASDAQ:CZR)‘s stock had its “outperform” rating restated by stock analysts at Macquarie in a report released on Wednesday, Benzinga reports. They presently have a $50.00 price objective on the stock. Macquarie’s price objective points to a potential upside of 20.05% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Finally, Barclays reduced their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Trading Down 8.0 %

Shares of Caesars Entertainment stock traded down $3.63 during trading on Wednesday, hitting $41.65. The stock had a trading volume of 7,441,676 shares, compared to its average volume of 4,150,904. The firm’s fifty day simple moving average is $40.90 and its 200-day simple moving average is $38.14. The stock has a market cap of $9.01 billion, a PE ratio of 11.67 and a beta of 2.97. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $0.34 EPS. Caesars Entertainment’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Caesars Entertainment will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Innealta Capital LLC grew its position in Caesars Entertainment by 23,029.2% during the 3rd quarter. Innealta Capital LLC now owns 5,551 shares of the company’s stock worth $232,000 after purchasing an additional 5,527 shares during the last quarter. Helikon Investments Ltd grew its position in Caesars Entertainment by 67.1% during the 3rd quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock worth $66,264,000 after purchasing an additional 637,303 shares during the last quarter. US Bancorp DE grew its position in Caesars Entertainment by 87.9% during the 3rd quarter. US Bancorp DE now owns 15,967 shares of the company’s stock worth $666,000 after purchasing an additional 7,469 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Caesars Entertainment by 16.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,513 shares of the company’s stock worth $397,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Trajan Wealth LLC purchased a new stake in Caesars Entertainment during the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.