Wells Fargo & Company Raises Caesars Entertainment (NASDAQ:CZR) Price Target to $56.00

Caesars Entertainment (NASDAQ:CZR) had its price target upped by Wells Fargo & Company from $53.00 to $56.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also issued reports on CZR. TD Cowen reduced their target price on Caesars Entertainment from $53.00 to $50.00 and set a buy rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research report on Friday, April 12th. Barclays cut their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a report on Friday, April 19th. B. Riley began coverage on shares of Caesars Entertainment in a report on Thursday, May 9th. They set a buy rating and a $70.00 price objective for the company. Finally, JMP Securities dropped their target price on shares of Caesars Entertainment from $60.00 to $58.00 and set a market outperform rating on the stock in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $54.14.

Caesars Entertainment Stock Performance

Shares of CZR opened at $35.66 on Wednesday. Caesars Entertainment has a one year low of $31.74 and a one year high of $58.29. The company has a market cap of $7.71 billion, a PE ratio of 10.10 and a beta of 2.99. The stock has a 50-day moving average of $36.91 and a 200-day moving average of $39.44. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.67.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Caesars Entertainment will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the transaction, the director now directly owns 350 shares of the company’s stock, valued at approximately $11,382. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently modified their holdings of CZR. 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 purchasing an additional 499 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Caesars Entertainment in the 4th quarter worth $45,000. Principal Securities Inc. purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at $46,000. Mather Group LLC. bought a new stake in shares of Caesars Entertainment during the 1st quarter worth $53,000. Finally, TFO Wealth Partners LLC grew its position in Caesars Entertainment by 22,920.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 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.