Caesars Entertainment (NASDAQ:CZR) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Caesars Entertainment (NASDAQ:CZR) from a buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat.com reports. They currently have $22.00 price target on the stock, down from their previous price target of $39.00.

Other analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Susquehanna cut their price objective on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Barclays cut their target price on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, Cfra reiterated a “hold” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $37.82.

Caesars Entertainment Trading Down 3.9%

Shares of CZR stock opened at $19.16 on Tuesday. The stock has a 50-day simple moving average of $24.07 and a 200 day simple moving average of $26.46. The stock has a market capitalization of $3.91 billion, a P/E ratio of -16.66 and a beta of 2.32. Caesars Entertainment has a fifty-two week low of $18.25 and a fifty-two week high of $41.76. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. Caesars Entertainment’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC increased its stake in Caesars Entertainment by 508.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after purchasing an additional 722 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares during the period. Mather Group LLC. bought a new stake in shares of Caesars Entertainment during the third quarter worth $28,000. UMB Bank n.a. raised its holdings in shares of Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after acquiring an additional 359 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Caesars Entertainment by 168.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock valued at $32,000 after acquiring an additional 711 shares in 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.