Caesars Entertainment (NASDAQ:CZR) Given New $50.00 Price Target at TD Cowen

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by TD Cowen from $53.00 to $50.00 in a research report report published on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

CZR has been the topic of several other research reports. JMP Securities reduced their price target on shares of Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $72.00 to $68.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. Truist Financial reduced their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus decreased their target price on Caesars Entertainment from $67.00 to $54.00 and set a buy rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Caesars Entertainment presently has an average rating of Moderate Buy and an average price target of $54.00.

Caesars Entertainment Stock Up 1.6 %

Shares of Caesars Entertainment stock opened at $36.38 on Wednesday. The business has a 50-day moving average of $41.04 and a 200-day moving average of $43.25. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The company has a market capitalization of $7.87 billion, a PE ratio of 10.02 and a beta of 2.81. Caesars Entertainment has a 1-year low of $35.12 and a 1-year high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) earnings per share. As a group, equities analysts forecast that Caesars Entertainment will post 1.02 EPS for the current fiscal year.

Insider Activity

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Asset Management One Co. Ltd. raised its holdings in Caesars Entertainment by 7.2% during the third quarter. Asset Management One Co. Ltd. now owns 86,041 shares of the company’s stock worth $3,988,000 after purchasing an additional 5,750 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Caesars Entertainment by 24.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,896 shares of the company’s stock worth $3,054,000 after purchasing an additional 12,800 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Caesars Entertainment during the third quarter worth approximately $373,000. Bank of New York Mellon Corp raised its holdings in Caesars Entertainment by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 1,293,853 shares of the company’s stock worth $59,970,000 after purchasing an additional 40,689 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Caesars Entertainment by 10.8% during the third quarter. Mackenzie Financial Corp now owns 7,855 shares of the company’s stock worth $354,000 after purchasing an additional 763 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.