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

Caesars Entertainment (NASDAQ:CZR) had its target price cut by Barclays from $59.00 to $57.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Susquehanna reiterated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. 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 research note on Wednesday. Stifel Nicolaus upped their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Stock Down 2.1 %

Shares of CZR opened at $39.22 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm’s 50 day moving average is $41.09 and its 200-day moving average is $38.17. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, analysts expect that Caesars Entertainment will post -0.44 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in CZR. Atria Investments Inc boosted its position in Caesars Entertainment by 27.4% during the 3rd quarter. Atria Investments Inc now owns 7,919 shares of the company’s stock worth $331,000 after buying an additional 1,703 shares during the period. Assetmark Inc. raised its stake in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after acquiring an additional 256 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Caesars Entertainment by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after purchasing an additional 59,170 shares during the period. Fiduciary Family Office LLC grew its stake in shares of Caesars Entertainment by 1.7% in the third quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock worth $1,052,000 after purchasing an additional 424 shares during the last quarter. Finally, Innealta Capital LLC increased its holdings in Caesars Entertainment by 23,029.2% in the third quarter. Innealta Capital LLC now owns 5,551 shares of the company’s stock valued at $232,000 after purchasing an additional 5,527 shares during the period. 91.79% of the stock is currently owned by 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.