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

Caesars Entertainment (NASDAQ:CZR) had its target price cut by equities research 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 target price would suggest a potential upside of 65.01% from the stock’s previous close.

Several other brokerages have also issued reports on CZR. StockNews.com lowered Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Deutsche Bank Aktiengesellschaft cut 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. Morgan Stanley raised their target price 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. JMP Securities decreased their price objective on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their price objective on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $57.73.

Caesars Entertainment Stock Up 0.5 %

CZR stock traded up $0.20 during trading on Friday, hitting $38.18. 690,252 shares of the company’s stock traded hands, compared to its average volume of 3,126,683. The business has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $43.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. The firm has a market capitalization of $8.26 billion, a P/E ratio of 10.52 and a beta of 2.81. Caesars Entertainment has a 1 year low of $37.81 and a 1 year high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS 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 during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm posted ($0.11) earnings per share. The company’s revenue was up .1% on a year-over-year basis. Sell-side analysts anticipate that Caesars Entertainment will post 1.07 EPS for the current year.

Insider Activity at Caesars Entertainment

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

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of CZR. Vanguard Group Inc. increased its position in Caesars Entertainment by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after purchasing an additional 148,034 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Caesars Entertainment by 3.9% during the 1st quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock worth $880,465,000 after purchasing an additional 676,512 shares during the period. Capital World Investors increased its position in shares of Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares during the last quarter. Point Break Capital Management LLC raised its holdings in 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. Finally, State Street Corp lifted its position in Caesars Entertainment by 4.4% in the second quarter. State Street Corp now owns 7,883,415 shares of the company’s stock valued at $401,818,000 after buying an additional 329,604 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.