Caesars Entertainment (NASDAQ:CZR) Given New $24.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Caesars from $22 to $24 and kept an "equal weight" rating, a level that still implies roughly a 12.1% downside from the prior close.
• Analyst consensus is a Moderate Buy (10 Buys, 6 Holds, 1 Sell) with an average target of $32.33, indicating divergence among brokers on the stock's upside.
• Caesars posted a substantial quarterly EPS miss — ($1.23) vs. ($0.18) expected — even as revenue slightly beat estimates; the company has negative margins and analysts forecast about -$0.77 EPS for the year.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $22.00 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 12.06% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Weiss Ratings reissued a "sell (e+)" rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research note on Tuesday, March 10th. Truist Financial reduced their price target on shares of 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, TD Cowen reissued a "buy" rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of "Moderate Buy" and an average target price of $32.33.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $27.29 on Thursday. The company's 50 day simple moving average is $24.63 and its 200-day simple moving average is $23.43. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -11.23 and a beta of 1.87. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. Caesars Entertainment's revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities research analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its stake in Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company's stock worth $26,000 after buying an additional 510 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after buying an additional 918 shares during the period. Mather Group LLC. acquired a new position in Caesars Entertainment during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its position in shares of 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 purchasing an additional 672 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of 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 purchasing an additional 488 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

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.

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