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

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

A number of other analysts have also weighed in on the company. Stifel Nicolaus cut 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. Truist Financial reduced their price objective on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their target price 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. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $34.56 on Wednesday. Caesars Entertainment has a 12 month low of $30.78 and a 12 month high of $45.93. The stock’s fifty day moving average price is $34.68 and its 200-day moving average price is $37.84. The firm has a market cap of $7.34 billion, a P/E ratio of -20.69 and a beta of 2.90. 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 (NASDAQ:CZR) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.81 billion. On average, equities research analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after buying an additional 256 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Caesars Entertainment by 3.0% in the third quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after acquiring an additional 317 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Caesars Entertainment by 1.1% during 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 in the last quarter. Fiduciary Family Office LLC grew its position in shares of Caesars Entertainment by 1.7% during the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after acquiring an additional 424 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Caesars Entertainment by 0.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.