Macquarie Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $46.00

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by Macquarie from $47.00 to $46.00 in a research note published on Wednesday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other analysts also recently issued reports on CZR. TD Cowen dropped their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Truist Financial dropped their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, 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 report on Thursday, January 23rd. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.64.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $33.22 on Wednesday. The company has a market capitalization of $7.06 billion, a PE ratio of -19.89 and a beta of 2.90. Caesars Entertainment has a 12 month low of $30.78 and a 12 month high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock’s fifty day simple moving average is $34.68 and its 200 day simple moving average is $37.81.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. On average, research analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. Bogart Wealth LLC grew its holdings in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the period. FIL Ltd bought a new position in Caesars Entertainment during the fourth quarter worth about $28,000. Huntington National Bank grew its holdings in Caesars Entertainment by 3,203.8% during 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 period. Resona Asset Management Co. Ltd. bought a new position in Caesars Entertainment during the fourth quarter worth about $44,000. Finally, Canada Pension Plan Investment Board grew its holdings in 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 period. Institutional investors own 91.79% of the company’s stock.

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.