Barclays Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target cut by analysts at Barclays from $59.00 to $57.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 40.12% from the company’s current price.

Several other analysts have also issued reports on CZR. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley increased their target price on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Susquehanna reaffirmed a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research note on Wednesday, July 31st. StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.31.

Caesars Entertainment Price Performance

Shares of CZR stock traded down $4.60 during mid-day trading on Wednesday, hitting $40.68. 4,143,584 shares of the stock were exchanged, compared to its average volume of 4,135,199. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The company has a market cap of $8.80 billion, a PE ratio of 11.69 and a beta of 2.97. The firm has a fifty day moving average of $40.90 and a 200 day moving average of $38.14.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after purchasing an additional 499 shares during the period. UMB Bank n.a. purchased a new stake in Caesars Entertainment in the 3rd quarter valued at about $51,000. GAMMA Investing LLC lifted its position in Caesars Entertainment by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after buying an additional 622 shares during the last quarter. Signaturefd LLC boosted its stake in Caesars Entertainment by 77.0% during the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after buying an additional 1,105 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Caesars Entertainment during the second quarter valued at about $147,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.