Caesars Entertainment (NASDAQ:CZR) PT Lowered to $103.00

Caesars Entertainment (NASDAQ:CZR – Get Rating) had its target price dropped by equities researchers at Wells Fargo & Company from $105.00 to $103.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 53.69% from the company’s previous close.

A number of other brokerages have also recently commented on CZR. Loop Capital raised their price objective on Caesars Entertainment from $99.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, February 28th. B. Riley decreased their price target on shares of Caesars Entertainment from $191.00 to $183.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. Cowen dropped their price objective on shares of Caesars Entertainment from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. Truist Financial decreased their target price on shares of Caesars Entertainment from $140.00 to $110.00 in a research report on Thursday, January 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Caesars Entertainment from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $123.57.

Caesars Entertainment stock opened at $67.02 on Wednesday. The stock’s 50 day moving average price is $78.61 and its two-hundred day moving average price is $90.47. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of -13.90 and a beta of 2.87. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.12 and a current ratio of 1.13. Caesars Entertainment has a 52-week low of $66.81 and a 52-week high of $119.81.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.33). The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. Caesars Entertainment had a negative net margin of 10.74% and a negative return on equity of 16.61%. The company’s revenue for the quarter was up 72.7% on a year-over-year basis. During the same period last year, the firm posted ($1.70) earnings per share. On average, equities research analysts forecast that Caesars Entertainment will post -1.11 EPS for the current year.

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 5,871 shares of the business’s stock in a transaction on Wednesday, January 26th. The stock was sold at an average price of $79.43, for a total value of $466,333.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Pegram purchased 13,000 shares of the business’s stock in a transaction dated Tuesday, March 8th. The shares were purchased at an average price of $68.89 per share, with a total value of $895,570.00. The disclosure for this purchase can be found here. Insiders sold a total of 8,109 shares of company stock worth $645,511 over the last three months. 0.55% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in CZR. Sageworth Trust Co of South Dakota purchased a new position in Caesars Entertainment in the 4th quarter valued at approximately $25,000. NEXT Financial Group Inc raised its stake in shares of Caesars Entertainment by 75.3% during the 4th quarter. NEXT Financial Group Inc now owns 326 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares during the period. Selective Wealth Management Inc. purchased a new stake in Caesars Entertainment during the 3rd quarter worth about $34,000. Raleigh Capital Management Inc. bought a new position in Caesars Entertainment in the 4th quarter worth about $56,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in Caesars Entertainment during the 4th quarter valued at about $59,000. Institutional investors own 93.55% of the company’s stock.

About Caesars Entertainment (Get Rating)

Caesars Holdings, Inc is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.

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