Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $59.00

Caesars Entertainment (NASDAQ:CZR) had its price target dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $59.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 47.13% from the stock’s current price.

Several other equities analysts have also recently commented on CZR. StockNews.com cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Barclays decreased their price target on shares of Caesars Entertainment from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. JPMorgan Chase & Co. reduced their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.18.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $40.10 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.74 and a current ratio of 0.76. Caesars Entertainment has a fifty-two week low of $38.33 and a fifty-two week high of $60.27. The stock has a market capitalization of $8.67 billion, a P/E ratio of 11.05 and a beta of 2.81. The company has a 50 day moving average price of $42.23 and a 200 day moving average price of $43.85.

Caesars Entertainment (NASDAQ:CZR) last issued 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 net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the business earned ($0.11) EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Caesars Entertainment will post 1.14 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael E. Pegram purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the purchase, the director now directly owns 4,612 shares of the company’s stock, valued at $191,167.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Caesars Entertainment by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after purchasing an additional 148,034 shares during the period. BlackRock Inc. boosted its holdings in shares of Caesars Entertainment by 3.9% in the first quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock valued at $880,465,000 after acquiring an additional 676,512 shares in the last quarter. Capital World Investors boosted its holdings in shares of Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares in the last quarter. Point Break Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 10.3% in the first quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after acquiring an additional 987,230 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 acquiring an additional 329,604 shares in the last quarter. 91.79% of the stock is currently 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.