Jefferies Financial Group Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by equities research analysts at Jefferies Financial Group from $52.00 to $43.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 32.27% from the company’s previous close.

CZR has been the subject of several other reports. 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 note on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays dropped their price target on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.43.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $32.51 on Friday. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $47.99. The stock’s 50 day simple moving average is $37.35 and its two-hundred day simple moving average is $38.38. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -19.47 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results 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 firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, analysts expect that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CZR. Huntington National Bank boosted its holdings in Caesars Entertainment by 3,203.8% in the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Caesars Entertainment in the 3rd quarter worth $51,000. Quarry LP bought a new stake in shares of Caesars Entertainment in the third quarter worth $68,000. GAMMA Investing LLC increased its position in Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after acquiring an additional 403 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after acquiring an additional 248 shares during the period. 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.