Raymond James Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by Raymond James from $55.00 to $49.00 in a research note released on Wednesday,Benzinga reports. They currently have a strong-buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. JMP Securities lowered their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Barclays cut their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price target 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, Jefferies Financial Group dropped their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Caesars Entertainment Trading Up 5.7 %

Shares of NASDAQ CZR opened at $29.12 on Wednesday. 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 has a one year low of $26.42 and a one year high of $45.93. The business has a 50-day moving average price of $33.55 and a two-hundred day moving average price of $37.06. The firm has a market capitalization of $6.17 billion, a PE ratio of -17.44 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 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 during the quarter, compared to analysts’ expectations of $2.81 billion. As a group, analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Caesars Entertainment by 1.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after acquiring an additional 408 shares during the period. Arizona State Retirement System grew its position in shares of Caesars Entertainment by 0.8% in the fourth quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock valued at $2,098,000 after purchasing an additional 470 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock worth $291,000 after purchasing an additional 500 shares during the period. Contrarian Capital Management L.L.C. lifted its position in shares of Caesars Entertainment by 0.4% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock worth $3,944,000 after purchasing an additional 500 shares during the last quarter. Finally, Fifth Lane Capital LP boosted its stake in Caesars Entertainment by 6.3% during the 4th quarter. Fifth Lane Capital LP now owns 8,500 shares of the company’s stock valued at $284,000 after purchasing an additional 500 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.