Wells Fargo & Company Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $53.00

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by Wells Fargo & Company from $58.00 to $53.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $59.00 target price on shares of Caesars Entertainment in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Stock Down 2.1 %

Shares of Caesars Entertainment stock opened at $39.22 on Wednesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.68. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51. The firm’s 50-day moving average is $41.09 and its two-hundred day moving average is $38.17. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -23.48 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, research analysts expect that Caesars Entertainment will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment during the third quarter worth $51,000. GAMMA Investing LLC grew its holdings in shares of Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after buying an additional 622 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Caesars Entertainment by 77.0% during the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after buying an additional 1,105 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.