TD Cowen Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $50.00

Caesars Entertainment (NASDAQ:CZR) had its price target trimmed by TD Cowen from $53.00 to $50.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on CZR. Truist Financial cut their target price on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut 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. Barclays reduced their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Susquehanna dropped their target price on shares of Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, JMP Securities reduced their price target on Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating on the stock in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $53.83.

Caesars Entertainment Stock Performance

CZR stock opened at $35.33 on Wednesday. The company has a 50 day moving average price of $40.67 and a 200 day moving average price of $43.09. Caesars Entertainment has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.74. The stock has a market capitalization of $7.65 billion, a PE ratio of 10.01 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last released its 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 6.68% and a return on equity of 1.27%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts forecast that Caesars Entertainment will post 1.02 EPS for the current year.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction 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 acquisition, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Caesars Entertainment by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after buying an additional 148,034 shares during the last quarter. Capital World Investors lifted its position 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 worth $516,826,000 after purchasing an additional 916,282 shares in the last quarter. HG Vora Capital Management LLC lifted its position in shares of Caesars Entertainment by 2.0% in the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after purchasing an additional 100,000 shares in the last quarter. Invesco Ltd. boosted its holdings in Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after purchasing an additional 293,078 shares during the last quarter. Finally, Norges Bank bought a new position in Caesars Entertainment in the fourth quarter valued at $102,213,000. 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.