Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $95.00 at Bank of America

Caesars Entertainment (NASDAQ:CZRGet Rating) had its target price dropped by Bank of America from $110.00 to $95.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 39.13% from the company’s current price.

Several other research firms have also recently commented on CZR. Cowen decreased their price target 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. StockNews.com initiated coverage on shares of Caesars Entertainment in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group decreased their price target on shares of Caesars Entertainment from $134.00 to $125.00 in a research note on Friday, January 21st. Loop Capital raised their price objective on shares of Caesars Entertainment from $99.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, February 28th. Finally, Stifel Nicolaus raised their price objective on shares of Caesars Entertainment from $120.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $121.67.

Shares of CZR traded down $0.60 during mid-day trading on Monday, hitting $68.28. 65,380 shares of the company traded hands, compared to its average volume of 2,960,646. Caesars Entertainment has a one year low of $66.81 and a one year high of $119.81. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 3.02. The business has a 50-day moving average of $78.05 and a 200 day moving average of $89.51. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of -14.17 and a beta of 2.87.

Caesars Entertainment (NASDAQ:CZRGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by ($0.33). Caesars Entertainment had a negative net margin of 10.74% and a negative return on equity of 16.61%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned ($1.70) earnings per share. Caesars Entertainment’s revenue for the quarter was up 72.7% compared to the same quarter last year. As a group, analysts anticipate that Caesars Entertainment will post -1.32 earnings per share for the current year.

In other news, insider Edmund L. Quatmann, Jr. sold 1,482 shares of Caesars Entertainment stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $80.46, for a total value of $119,241.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edmund L. Quatmann, Jr. sold 5,871 shares of Caesars Entertainment stock in a transaction dated Wednesday, January 26th. The shares were sold at an average price of $79.43, for a total transaction of $466,333.53. The disclosure for this sale can be found here. Insiders sold a total of 8,109 shares of company stock worth $645,511 over the last quarter. Company insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CZR. Soros Fund Management LLC boosted its holdings in shares of Caesars Entertainment by 9.4% during the 3rd quarter. Soros Fund Management LLC now owns 151,147 shares of the company’s stock worth $16,971,000 after buying an additional 13,000 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Caesars Entertainment by 117.9% during the 3rd quarter. Hsbc Holdings PLC now owns 289,773 shares of the company’s stock worth $32,558,000 after buying an additional 156,814 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Caesars Entertainment by 28.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 38,057 shares of the company’s stock valued at $4,273,000 after purchasing an additional 8,436 shares during the period. New York State Common Retirement Fund boosted its holdings in Caesars Entertainment by 2.8% in the 3rd quarter. New York State Common Retirement Fund now owns 234,538 shares of the company’s stock valued at $26,334,000 after purchasing an additional 6,349 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Caesars Entertainment by 4.2% in the 3rd quarter. Alliancebernstein L.P. now owns 286,542 shares of the company’s stock valued at $32,173,000 after purchasing an additional 11,476 shares during the period. 93.55% of the stock is owned by institutional investors.

About Caesars Entertainment (Get Rating)

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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