Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $53.00 by Analysts at Wells Fargo & Company

Caesars Entertainment (NASDAQ:CZR) had its price objective trimmed by Wells Fargo & Company from $58.00 to $53.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

CZR has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price target on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Jefferies Financial Group lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $39.22 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $8.33 billion, a P/E ratio of -23.48 and a beta of 2.97. The business has a 50-day moving average of $41.07 and a 200-day moving average of $38.18. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities analysts anticipate that Caesars Entertainment will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in CZR. Blue Trust Inc. raised its stake in shares of Caesars Entertainment by 525.3% during the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. UMB Bank n.a. acquired a new position in Caesars Entertainment during the third quarter worth $51,000. GAMMA Investing LLC raised its position in Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares in the last quarter. Signaturefd LLC lifted its stake in Caesars Entertainment by 77.0% in the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after acquiring an additional 1,105 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Caesars Entertainment by 8.0% in the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after acquiring an additional 256 shares during the period. 91.79% of the stock is owned by institutional investors.

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.