Wells Fargo & Company Raises Caesars Entertainment (NASDAQ:CZR) Price Target to $24.00

Caesars Entertainment (NASDAQ:CZR) had its target price boosted by research analysts at Wells Fargo & Company from $22.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 11.83% from the company’s previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group boosted their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research note on Tuesday, March 10th. Truist Financial dropped their price objective on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.73.

Caesars Entertainment Stock Down 1.7%

Shares of NASDAQ:CZR opened at $27.22 on Thursday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -11.20 and a beta of 1.87. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The business’s 50-day moving average is $24.91 and its 200-day moving average is $23.46. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CZR. Hantz Financial Services Inc. increased its position in Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares in the last quarter. Mather Group LLC. bought a new stake in Caesars Entertainment in the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. increased its position in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.