Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $50.00 at Wells Fargo & Company

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by equities researchers at Wells Fargo & Company from $53.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 50.38% from the company’s current price.

CZR has been the subject of several other research reports. JMP Securities decreased their price target on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group reduced their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Truist Financial cut their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, TD Cowen dropped their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

Caesars Entertainment Price Performance

CZR stock opened at $33.25 on Wednesday. The business’s fifty day moving average price is $34.68 and its 200 day moving average price is $37.81. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $7.06 billion, a PE ratio of -19.91 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. On average, sell-side analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds have recently made changes to their positions in the company. American Trust lifted its holdings in shares of Caesars Entertainment by 8.7% in the 4th quarter. American Trust now owns 7,505 shares of the company’s stock valued at $251,000 after purchasing an additional 601 shares during the last quarter. Mackenzie Financial Corp increased its position in Caesars Entertainment by 52.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock worth $366,000 after buying an additional 3,764 shares during the period. Toronto Dominion Bank lifted its stake in Caesars Entertainment by 1.1% in the fourth quarter. Toronto Dominion Bank now owns 85,118 shares of the company’s stock valued at $2,845,000 after buying an additional 920 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $2,719,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Caesars Entertainment by 24.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 503,387 shares of the company’s stock worth $16,823,000 after acquiring an additional 99,843 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.