Caesars Entertainment (NASDAQ:CZR) Earns Outperform Rating from Macquarie

Caesars Entertainment (NASDAQ:CZR)‘s stock had its “outperform” rating reissued by research analysts at Macquarie in a note issued to investors on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the stock. Macquarie’s price target points to a potential upside of 24.84% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays dropped their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price objective 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. Finally, Susquehanna reissued a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $40.05 on Wednesday. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The company has a market cap of $8.66 billion, a P/E ratio of -23.98 and a beta of 2.97. The firm’s fifty day moving average is $41.00 and its two-hundred day moving average is $38.17. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced 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). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that Caesars Entertainment will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several large investors have recently added to or reduced their stakes in CZR. Blue Trust Inc. boosted its position in Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after buying 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 boosted its position in Caesars Entertainment by 63.1% in the 2nd 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 period. Signaturefd LLC raised its holdings in shares of Caesars Entertainment by 77.0% in the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Caesars Entertainment in the 2nd quarter valued at about $147,000. 91.79% of the stock is 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.