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

Caesars Entertainment (NASDAQ:CZR) had its price objective trimmed by Wells Fargo & Company from $67.00 to $54.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on CZR. TD Cowen decreased their price objective on Caesars Entertainment from $53.00 to $50.00 and set a buy rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research note on Friday, April 12th. Truist Financial decreased their price objective on Caesars Entertainment from $58.00 to $52.00 and set a buy rating for the company in a research note on Wednesday. Susquehanna decreased their price objective on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Finally, Barclays reduced their target price on Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of Moderate Buy and an average target price of $54.00.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $36.38 on Wednesday. Caesars Entertainment has a twelve month low of $35.12 and a twelve month high of $60.27. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 10.02 and a beta of 2.81. The stock has a fifty day simple moving average of $41.04 and a two-hundred day simple moving average of $43.25. 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 issued its quarterly earnings data 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 company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) earnings per share. On average, analysts predict that Caesars Entertainment will post 1.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael E. Pegram acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost 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 of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. grew its holdings in Caesars Entertainment by 26.4% during the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock worth $2,057,000 after acquiring an additional 9,270 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Caesars Entertainment by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock worth $95,144,000 after acquiring an additional 77,595 shares during the period. GSA Capital Partners LLP purchased a new position in Caesars Entertainment during the third quarter worth approximately $2,259,000. Strs Ohio boosted its position in Caesars Entertainment by 33.2% during the fourth quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after purchasing an additional 168,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Caesars Entertainment by 1,029.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock worth $11,998,000 after purchasing an additional 233,271 shares in the last quarter. 91.79% of the stock is 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.