Wells Fargo & Company Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $53.00

Caesars Entertainment (NASDAQ:CZR) had its target price cut by Wells Fargo & Company from $58.00 to $53.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

CZR has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Susquehanna reaffirmed a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Barclays upped their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Trading Down 2.1 %

Shares of CZR stock opened at $39.22 on Wednesday. The company’s 50-day moving average price is $41.09 and its 200-day moving average price is $38.17. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 2.84. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -23.48 and a beta of 2.97. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts predict that Caesars Entertainment will post -0.35 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

A number of large investors have recently made changes to their positions in CZR. Capital Research Global Investors increased its stake in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after buying an additional 3,289,748 shares during the period. Nut Tree Capital Management LP increased its stake in shares of Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after buying an additional 1,700,000 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after buying an additional 1,515,763 shares during the period. SG Americas Securities LLC increased its stake in shares of Caesars Entertainment by 6,568.4% during the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after buying an additional 1,418,318 shares during the period. Finally, Helikon Investments Ltd purchased a new stake in shares of Caesars Entertainment during the second quarter worth approximately $37,763,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.