Wells Fargo & Company Trims Caesars Entertainment (NASDAQ:CZR) Target Price to $54.00

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $67.00 to $54.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 48.43% from the stock's previous close.

Several other brokerages also recently weighed in on CZR. Morgan Stanley upped their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. 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 research note on Tuesday, January 9th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $65.00 to $62.00 and set a "market outperform" rating on the stock in a research note on Friday, April 19th. 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. Finally, Truist Financial reduced their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.00.

Caesars Entertainment Trading Up 1.6 %

Shares of Caesars Entertainment stock traded up $0.56 during trading hours on Wednesday, hitting $36.38. The company's stock had a trading volume of 11,584,981 shares, compared to its average volume of 3,363,980. Caesars Entertainment has a 1-year low of $35.12 and a 1-year high of $60.27. The business has a fifty day moving average of $41.04 and a 200 day moving average of $43.25. The company has a market capitalization of $7.87 billion, a PE ratio of 9.90 and a beta of 2.81. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. Caesars Entertainment's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. As a group, equities analysts forecast that Caesars Entertainment will post 1.02 EPS for the current year.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram bought 15,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $41.45 per share, with a total value of $621,750.00. Following the purchase, the director now owns 4,612 shares in the company, valued at $191,167.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Caesars Entertainment

Several large investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in shares of Caesars Entertainment by 26.4% in the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company's stock worth $2,057,000 after buying an additional 9,270 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Caesars Entertainment by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company's stock worth $95,144,000 after buying an additional 77,595 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Caesars Entertainment in the third quarter worth about $2,259,000. Strs Ohio boosted its holdings in shares of Caesars Entertainment by 33.2% in the fourth quarter. Strs Ohio now owns 676,706 shares of the company's stock worth $31,723,000 after buying an additional 168,738 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Caesars Entertainment by 1,029.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company's stock worth $11,998,000 after buying an additional 233,271 shares during the period. Institutional investors own 91.79% of the company's stock.

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.