Barclays Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $63.00

Caesars Entertainment (NASDAQ:CZR) had its target price cut by analysts at Barclays from $65.00 to $63.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 65.01% from the company’s previous close.

A number of other brokerages have also weighed in on CZR. JMP Securities reduced their price target on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a research note on Friday. Morgan Stanley increased their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Susquehanna dropped their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $57.73.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR traded up $0.20 on Friday, hitting $38.18. The company’s stock had a trading volume of 690,252 shares, compared to its average volume of 3,126,683. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. Caesars Entertainment has a 12-month low of $37.81 and a 12-month high of $60.27. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.52 and a beta of 2.81. The stock has a 50 day moving average of $41.88 and a 200-day moving average of $43.66.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the business posted ($0.11) EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts predict that Caesars Entertainment will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $112,358,000. Point Break Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 10.3% in the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after buying an additional 987,230 shares during the period. AQR Capital Management LLC grew its position in shares of Caesars Entertainment by 938.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after buying an additional 942,621 shares during the last quarter. Capital World Investors raised its stake in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. Finally, Wolf Hill Capital Management LP lifted its holdings in Caesars Entertainment by 141.3% in the first quarter. Wolf Hill Capital Management LP now owns 1,539,986 shares of the company’s stock worth $75,167,000 after acquiring an additional 901,884 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Company Profile

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.