TD Cowen Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $35.00

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by TD Cowen from $40.00 to $35.00 in a research note released on Wednesday morning, MarketBeat reports. TD Cowen currently has a buy rating on the stock.

CZR has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. Wall Street Zen lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. Macquarie decreased their price objective on Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.61.

Caesars Entertainment Stock Down 1.2%

Shares of NASDAQ CZR opened at $23.34 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. The business has a 50-day moving average of $23.44 and a 200-day moving average of $24.56. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -20.29, a PEG ratio of 5.03 and a beta of 2.03. Caesars Entertainment has a 12 month low of $18.25 and a 12 month high of $40.00.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. 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 and hedge funds have recently bought and sold shares of CZR. JFS Wealth Advisors LLC increased its stake in Caesars Entertainment by 508.5% in 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 during the period. Hantz Financial Services Inc. grew 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 worth $26,000 after purchasing an additional 510 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Caesars Entertainment in the third quarter worth $28,000. Sunbelt Securities Inc. raised its holdings in Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after buying an additional 359 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.