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

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by Wells Fargo & Company from $53.00 to $50.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently commented on CZR. JPMorgan Chase & Co. dropped their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus cut their price objective 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. Truist Financial lowered their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, TD Cowen reduced their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $50.64.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $33.22 on Wednesday. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of -19.89 and a beta of 2.90. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a fifty day moving average of $34.68 and a 200-day moving average of $37.81.

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

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC raised its position in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares in the last quarter. FIL Ltd acquired a new position in shares of Caesars Entertainment during the 4th quarter worth about $28,000. Huntington National Bank increased its stake in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after purchasing an additional 833 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $44,000. Finally, Canada Pension Plan Investment Board lifted its stake in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

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.