JMP Securities Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $62.00

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by JMP Securities from $65.00 to $62.00 in a research report released on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

CZR has been the topic of a number of other research reports. Stifel Nicolaus dropped their price target on shares of Caesars Entertainment from $70.00 to $67.00 and set a buy rating on the stock in a report on Thursday, January 18th. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $72.00 to $68.00 and set an overweight rating on the stock in a report on Wednesday, February 21st. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price target on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a research note on Tuesday, January 9th. Finally, Barclays reduced their price objective on Caesars Entertainment from $67.00 to $65.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.73.

Caesars Entertainment Trading Up 0.6 %

Shares of NASDAQ CZR opened at $38.20 on Friday. The company has a market cap of $8.26 billion, a PE ratio of 10.52 and a beta of 2.81. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76. The firm’s 50 day moving average price is $41.75 and its 200-day moving average price is $43.59. Caesars Entertainment has a 52-week low of $37.81 and a 52-week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted ($0.11) earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts expect that Caesars Entertainment will post 1.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael E. Pegram purchased 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in the business. Deltec Asset Management LLC lifted its holdings in Caesars Entertainment by 0.8% in the 1st quarter. Deltec Asset Management LLC now owns 389,403 shares of the company’s stock worth $17,032,000 after purchasing an additional 3,100 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Caesars Entertainment during the first quarter valued at approximately $386,000. Massmutual Trust Co. FSB ADV raised its position in shares of Caesars Entertainment by 27.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 5,328 shares of the company’s stock valued at $233,000 after buying an additional 1,161 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Caesars Entertainment in the first quarter worth $53,000. Finally, NBC Securities Inc. boosted its position in shares of Caesars Entertainment by 57.9% during the first quarter. NBC Securities Inc. now owns 6,018 shares of the company’s stock worth $263,000 after acquiring an additional 2,207 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.