Caesars Entertainment (NASDAQ:CZR) PT Raised to $58.00

Caesars Entertainment (NASDAQ:CZR) had its target price increased by Wells Fargo & Company from $56.00 to $58.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

CZR has been the topic of several other reports. Jefferies Financial Group decreased their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Susquehanna reaffirmed a “negative” rating and set a $33.00 price target on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Morgan Stanley cut their price objective on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities reiterated a “market outperform” rating and set a $59.00 price objective on shares of Caesars Entertainment in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.38.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $45.18 on Thursday. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 12.80 and a beta of 2.97. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $50.51. The company’s 50-day moving average price is $39.77 and its 200 day moving average price is $38.09. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Caesars Entertainment’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Caesars Entertainment will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CZR. Blue Trust Inc. raised its holdings in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after buying an additional 499 shares during the period. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $51,000. Mather Group LLC. purchased a new stake in shares of Caesars Entertainment during the first quarter valued at approximately $53,000. GAMMA Investing LLC raised its stake in shares of Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 622 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Caesars Entertainment by 77.0% during the second quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock valued at $101,000 after purchasing an additional 1,105 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.