JMP Securities Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $60.00

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by JMP Securities from $62.00 to $60.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. TD Cowen dropped their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a buy rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Tuesday, January 9th. Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set a buy rating on the stock in a research report on Wednesday. Barclays decreased their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Finally, Morgan Stanley boosted their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of Moderate Buy and a consensus price target of $53.83.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock traded up $0.19 during trading on Thursday, reaching $35.33. The company’s stock had a trading volume of 3,719,936 shares, compared to its average volume of 4,051,565. The company has a 50-day moving average price of $40.67 and a two-hundred day moving average price of $43.08. The firm has a market cap of $7.65 billion, a PE ratio of 10.01 and a beta of 2.83. Caesars Entertainment has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The company has a current ratio of 0.69, a quick ratio of 0.74 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, analysts forecast that Caesars Entertainment will post 0.23 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In other news, Director Michael E. Pegram bought 15,000 shares of Caesars Entertainment stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the acquisition, the director now owns 4,612 shares in the company, valued at $191,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CZR. Norges Bank acquired a new position in shares of Caesars Entertainment during the 4th quarter valued at about $102,213,000. AQR Capital Management LLC increased its stake in shares of Caesars Entertainment by 938.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after acquiring an additional 942,621 shares during the last quarter. Capital World Investors increased its stake in shares of Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Caesars Entertainment by 481.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after acquiring an additional 751,938 shares during the last quarter. Finally, Blackstone Inc. acquired a new position in shares of Caesars Entertainment during the 3rd quarter valued at about $34,762,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.