Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $54.00 at Wells Fargo & Company

Caesars Entertainment (NASDAQ:CZR) had its price target cut by Wells Fargo & Company from $67.00 to $54.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on CZR. Truist Financial dropped their target price on Caesars Entertainment from $58.00 to $52.00 and set a buy rating for the company in a research report on Wednesday. Susquehanna lowered their price objective on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research report on Friday, April 12th. Barclays lowered their price objective on Caesars Entertainment from $65.00 to $63.00 and set an overweight rating for the company in a research report on Friday, April 19th. Finally, JMP Securities lowered their price objective on Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating for the company in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $54.00.

Caesars Entertainment Stock Up 1.6 %

Shares of NASDAQ CZR 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 firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 10.02 and a beta of 2.81. Caesars Entertainment has a 12 month low of $35.12 and a 12 month high of $60.27. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

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

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Caesars Entertainment by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after purchasing an additional 148,034 shares in the last quarter. Capital World Investors increased its holdings in shares of Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares in the last quarter. HG Vora Capital Management LLC increased its holdings in shares of Caesars Entertainment by 2.0% during the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock valued at $239,088,000 after acquiring an additional 100,000 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after acquiring an additional 293,078 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $102,213,000. 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.