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

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

CZR has been the subject of several other research reports. Stifel Nicolaus cut their target price on Caesars Entertainment from $67.00 to $54.00 and set a buy rating for the company in a research report on Wednesday. Morgan Stanley lifted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Barclays lowered their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research report on Friday, April 12th. Finally, Susquehanna reduced their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $53.83.

Caesars Entertainment Trading Up 0.5 %

Shares of Caesars Entertainment stock opened at $35.33 on Wednesday. The company’s fifty day moving average price is $40.67 and its two-hundred day moving average price is $43.08. The firm has a market capitalization of $7.65 billion, a PE ratio of 10.01 and a beta of 2.83. Caesars Entertainment has a 52-week low of $35.09 and a 52-week high of $60.27. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.74.

Caesars Entertainment (NASDAQ:CZR) last posted 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 business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, analysts expect that Caesars Entertainment will post 0.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caesars Entertainment

Several large investors have recently bought and sold shares of CZR. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after acquiring an additional 148,034 shares during the last quarter. Capital World Investors increased its holdings in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after purchasing an additional 916,282 shares during the last quarter. HG Vora Capital Management LLC lifted its stake in Caesars Entertainment by 2.0% in 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 buying an additional 100,000 shares during the period. Invesco Ltd. boosted its holdings in Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after buying an additional 293,078 shares during the last quarter. Finally, Norges Bank bought a new position in Caesars Entertainment during the fourth quarter worth about $102,213,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.