TD Cowen Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by stock analysts at TD Cowen from $40.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 51.61% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target 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. JMP Securities cut their price target on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 17th. Truist Financial dropped their price target on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average target price of $34.61.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded up $0.24 on Wednesday, hitting $23.09. 4,517,215 shares of the company traded hands, compared to its average volume of 4,743,315. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. The business has a 50-day simple moving average of $23.21 and a 200 day simple moving average of $24.61. Caesars Entertainment has a 52 week low of $18.25 and a 52 week high of $40.00. The stock has a market capitalization of $4.71 billion, a P/E ratio of -20.09, a price-to-earnings-growth ratio of 5.19 and a beta of 2.03.

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

Institutional Trading of Caesars Entertainment

Several large investors have recently modified their holdings of CZR. Flagship Harbor Advisors LLC bought a new stake in Caesars Entertainment during the fourth quarter worth $120,000. FNY Investment Advisers LLC boosted its stake in Caesars Entertainment by 55.3% in the 4th quarter. FNY Investment Advisers LLC now owns 5,500 shares of the company’s stock worth $128,000 after purchasing an additional 1,958 shares during the period. CoreCap Advisors LLC increased its holdings in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the period. Hickory Point Bank & Trust purchased a new position in Caesars Entertainment during the fourth quarter worth about $333,000. Finally, DAVENPORT & Co LLC grew its stake in Caesars Entertainment by 0.4% in the 4th quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after buying an additional 18,414 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.