Caesars Entertainment (NASDAQ:CZR) Given New $57.00 Price Target at Barclays

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

CZR has been the topic of several other reports. Morgan Stanley raised their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. 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 report on Wednesday. Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Caesars Entertainment Trading Down 10.2 %

Shares of CZR stock traded down $4.60 during trading hours on Wednesday, reaching $40.68. 4,143,584 shares of the stock were exchanged, compared to its average volume of 4,135,199. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $50.51. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 11.69 and a beta of 2.97. The company’s 50-day moving average price is $40.90 and its 200-day moving average price is $38.14.

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

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of CZR. Signaturefd LLC boosted its holdings in shares of Caesars Entertainment by 9.8% in the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after acquiring an additional 248 shares during the last quarter. American Trust grew its position in Caesars Entertainment by 4.5% during the 1st quarter. American Trust now owns 7,346 shares of the company’s stock worth $321,000 after purchasing an additional 313 shares during the period. Private Advisor Group LLC raised its stake in shares of Caesars Entertainment by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock valued at $453,000 after buying an additional 317 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after buying an additional 403 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds 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.