Deutsche Bank Aktiengesellschaft Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $64.00

Caesars Entertainment (NASDAQ:CZRGet Rating) had its target price decreased by Deutsche Bank Aktiengesellschaft from $90.00 to $64.00 in a report published on Wednesday morning, The Fly reports.

Several other brokerages also recently weighed in on CZR. Bank of America reduced their price target on Caesars Entertainment from $110.00 to $95.00 and set a buy rating for the company in a report on Monday, April 18th. Stifel Nicolaus reduced their price objective on Caesars Entertainment from $113.00 to $63.00 in a report on Tuesday, July 19th. Susquehanna assumed coverage on Caesars Entertainment in a report on Wednesday, July 20th. They issued a neutral rating and a $32.00 price objective for the company. Susquehanna Bancshares assumed coverage on Caesars Entertainment in a report on Wednesday, July 20th. They issued a neutral rating and a $32.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Caesars Entertainment from $106.00 to $65.00 and set an overweight rating for the company in a report on Thursday, July 14th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has an average rating of Moderate Buy and an average price target of $88.00.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $47.67 on Wednesday. Caesars Entertainment has a 1-year low of $35.10 and a 1-year high of $119.81. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.00 and a quick ratio of 0.99. The business has a fifty day moving average price of $43.42 and a 200-day moving average price of $61.76. The company has a market capitalization of $10.22 billion, a PE ratio of -6.93 and a beta of 2.79.

Caesars Entertainment (NASDAQ:CZRGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($2.11) earnings per share for the quarter, beating the consensus estimate of ($2.15) by $0.04. Caesars Entertainment had a negative return on equity of 19.99% and a negative net margin of 14.14%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned ($2.06) earnings per share. The company’s revenue was up 34.9% on a year-over-year basis. As a group, equities analysts expect that Caesars Entertainment will post -1.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Don R. Kornstein acquired 4,000 shares of the stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $39.60 per share, with a total value of $158,400.00. Following the transaction, the director now directly owns 30,853 shares in the company, valued at $1,221,778.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Caesars Entertainment news, Director Don R. Kornstein purchased 4,000 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were bought at an average cost of $39.60 per share, with a total value of $158,400.00. Following the acquisition, the director now owns 30,853 shares in the company, valued at $1,221,778.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $52.00, for a total value of $140,140.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of large investors have recently added to or reduced their stakes in CZR. Capital Research Global Investors increased its stake in Caesars Entertainment by 20.5% in the 1st quarter. Capital Research Global Investors now owns 20,877,113 shares of the company’s stock worth $1,615,057,000 after acquiring an additional 3,548,997 shares during the last quarter. Norges Bank bought a new stake in Caesars Entertainment in the 4th quarter worth approximately $178,319,000. Capital World Investors increased its stake in Caesars Entertainment by 17.5% in the 1st quarter. Capital World Investors now owns 12,756,091 shares of the company’s stock worth $986,811,000 after acquiring an additional 1,902,200 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Caesars Entertainment in the 1st quarter worth approximately $77,785,000. Finally, HG Vora Capital Management LLC bought a new stake in Caesars Entertainment in the 4th quarter worth approximately $93,530,000. Institutional investors own 94.75% of the company’s stock.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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