Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $31.00 at Wells Fargo & Company

Caesars Entertainment (NASDAQ:CZR) had its price objective raised by equities research analysts at Wells Fargo & Company from $26.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.33% from the stock’s current price.

CZR has been the subject of a number of other research reports. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday. Citizens Jmp raised their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Monday. Morgan Stanley increased their price objective on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Stifel Nicolaus lowered their target price on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Hold” and a consensus price target of $32.80.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $29.16 on Tuesday. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The stock has a market cap of $5.94 billion, a PE ratio of -12.29 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. The firm’s fifty day moving average price is $27.35 and its two-hundred day moving average price is $24.62.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the firm earned ($0.54) EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Caesars Entertainment will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Pictet Asset Management Holding SA increased its stake in shares of Caesars Entertainment by 1.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after acquiring an additional 363 shares in the last quarter. CoreCap Advisors LLC increased its stake in Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after purchasing an additional 493 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares during the period. Finally, Corient Private Wealth LLC increased its position in Caesars Entertainment by 3.5% in the 2nd quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after buying an additional 549 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors.

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.