Caesars Entertainment (NASDAQ:CZR) Lowered to Market Perform Rating by Raymond James Financial

Raymond James Financial downgraded shares of Caesars Entertainment (NASDAQ:CZR) from a strong-buy rating to a market perform rating in a research note published on Friday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial lifted their price target on shares of Caesars Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Citigroup lifted their price target on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Susquehanna raised shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $29.05 on Friday. The company’s fifty day moving average price is $27.32 and its 200 day moving average price is $24.52. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58. The stock has a market capitalization of $5.92 billion, a P/E ratio of -12.26 and a beta of 1.77. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted ($0.54) EPS. Caesars Entertainment’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Caesars Entertainment will post -0.5 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 the company. Cyrus Capital Partners L.P. acquired a new position in Caesars Entertainment in the 1st quarter valued at about $37,795,000. Edgestream Partners L.P. acquired a new position in Caesars Entertainment in the 1st quarter valued at about $2,225,000. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after purchasing an additional 355,760 shares during the last quarter. Amundi boosted its holdings in Caesars Entertainment by 205.1% in the 1st quarter. Amundi now owns 1,587,634 shares of the company’s stock valued at $41,961,000 after purchasing an additional 1,067,259 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after purchasing an additional 702 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment News Summary

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Caesars agreed to be acquired by Fertitta Entertainment for $31 per share in cash, a major premium that supports the stock and explains the sharp investor interest. Reuters: Caesars Entertainment to be bought by Fertitta Entertainment for $17.6 billion
• Positive Sentiment: The deal could boost broader casino consolidation and signals continued strategic value in Caesars’ assets, which may help sentiment around the company. Proactive Investors: Caesars Entertainment buyout potential catalyst for broader casino consolidation
• Neutral Sentiment: JPMorgan and Susquehanna reaffirmed neutral-style views while trimming price targets to $31, essentially matching the offer price and suggesting limited upside from here. Benzinga analyst updates
• Negative Sentiment: Truist downgraded Caesars from buy to hold, while Raymond James cut the stock to market perform, reflecting reduced upside now that a buyout is in place. Benzinga analyst updates
• Negative Sentiment: Law firms have opened shareholder investigations into whether the $31 per-share deal is fair, which could create some legal overhang. Business Wire: shareholder investigation

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.