Macquarie Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $46.00

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by stock analysts at Macquarie from $47.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 38.35% from the stock’s previous close.

A number of other brokerages also recently commented on CZR. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group lowered their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Truist Financial cut their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company lowered their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen cut their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.64.

Caesars Entertainment Stock Down 3.8 %

Shares of Caesars Entertainment stock opened at $33.25 on Wednesday. The stock’s fifty day moving average is $34.68 and its 200-day moving average is $37.81. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $7.06 billion, a PE ratio of -19.91 and a beta of 2.90. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Equities analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. American Trust lifted its position in Caesars Entertainment by 8.7% during the 4th quarter. American Trust now owns 7,505 shares of the company’s stock worth $251,000 after acquiring an additional 601 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Caesars Entertainment by 52.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock worth $366,000 after purchasing an additional 3,764 shares during the last quarter. Toronto Dominion Bank boosted its stake in Caesars Entertainment by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 85,118 shares of the company’s stock valued at $2,845,000 after purchasing an additional 920 shares during the period. Castleark Management LLC acquired a new stake in Caesars Entertainment in the 4th quarter valued at approximately $2,719,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Caesars Entertainment by 24.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 503,387 shares of the company’s stock worth $16,823,000 after buying an additional 99,843 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.