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

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by Wells Fargo & Company from $53.00 to $50.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on CZR. Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group dropped their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. JMP Securities cut their price objective on 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. Truist Financial decreased their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.64.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $33.22 on Wednesday. The business has a 50 day simple moving average of $34.68 and a 200 day simple moving average of $37.81. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market capitalization of $7.06 billion, a PE ratio of -19.89 and a beta of 2.90. Caesars Entertainment has a one year low of $30.78 and a one year high of $45.93.

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

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Caesars Entertainment by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock valued at $780,854,000 after acquiring an additional 100,263 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Caesars Entertainment by 14.8% in the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after purchasing an additional 2,555,876 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after purchasing an additional 1,882,728 shares during the period. Janus Henderson Group PLC increased its holdings in Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Caesars Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after purchasing an additional 1,213,426 shares during the last quarter. 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.