Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $56.00

Caesars Entertainment (NASDAQ:CZR) had its target price raised by Wells Fargo & Company from $53.00 to $56.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Truist Financial lowered their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley cut their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set an equal weight rating for the company in a research report on Friday, July 12th. TD Cowen decreased their target price on Caesars Entertainment from $53.00 to $50.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut their price target on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a report on Friday, April 12th. Finally, Barclays decreased their price objective on Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Caesars Entertainment has a consensus rating of Moderate Buy and an average price target of $54.14.

Caesars Entertainment Stock Down 4.6 %

Shares of Caesars Entertainment stock opened at $35.66 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $58.29. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 10.10 and a beta of 2.99. The company’s 50 day moving average is $36.91 and its 200 day moving average is $39.44.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. Research analysts anticipate that Caesars Entertainment will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael E. Pegram purchased 10,000 shares of Caesars Entertainment stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now owns 191,697 shares in the company, valued at approximately $6,126,636.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by company insiders.

Institutional Trading of Caesars Entertainment

Several hedge funds have recently modified their holdings of CZR. National Bank of Canada FI increased its position in Caesars Entertainment by 22.8% in the second quarter. National Bank of Canada FI now owns 58,492 shares of the company’s stock worth $2,208,000 after purchasing an additional 10,874 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Caesars Entertainment by 6.0% in the 2nd quarter. TD Asset Management Inc now owns 703,086 shares of the company’s stock worth $27,941,000 after buying an additional 39,609 shares in the last quarter. Fiduciary Family Office LLC increased its holdings in shares of Caesars Entertainment by 24.1% in the 2nd quarter. Fiduciary Family Office LLC now owns 24,791 shares of the company’s stock worth $985,000 after buying an additional 4,817 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Caesars Entertainment during the 2nd quarter valued at about $2,945,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Caesars Entertainment by 26.8% in the 2nd quarter. Natixis Advisors LLC now owns 18,535 shares of the company’s stock valued at $737,000 after acquiring an additional 3,921 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other 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.