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

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by equities research analysts at JMP Securities from $62.00 to $60.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 68.07% from the company’s previous close.

A number of other brokerages have also issued reports on CZR. JPMorgan Chase & Co. decreased their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, January 9th. Truist Financial decreased their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their target price on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen decreased their price target on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.83.

Caesars Entertainment Stock Performance

CZR stock traded down $0.68 during trading on Thursday, hitting $35.70. 2,461,170 shares of the company’s stock traded hands, compared to its average volume of 3,351,914. The stock has a fifty day moving average price of $40.92 and a two-hundred day moving average price of $43.20. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. Caesars Entertainment has a 52 week low of $35.12 and a 52 week high of $60.27. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 10.09 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 1.26% and a net margin of 6.68%. Caesars Entertainment’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) earnings per share. As a group, equities analysts anticipate that Caesars Entertainment will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Caesars Entertainment

Several large investors have recently made changes to their positions in CZR. Assetmark Inc. grew its stake in Caesars Entertainment by 10.6% in the 3rd quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after buying an additional 261 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Caesars Entertainment by 0.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock worth $1,625,000 after purchasing an additional 285 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Caesars Entertainment by 4.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock worth $354,000 after purchasing an additional 295 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Caesars Entertainment by 13.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock valued at $148,000 after purchasing an additional 376 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Caesars Entertainment by 8.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after buying an additional 400 shares during the last quarter. 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.