Caesars Entertainment (NASDAQ:CZR) PT Lowered to $50.00

Caesars Entertainment (NASDAQ:CZR) had its target price cut by TD Cowen from $53.00 to $50.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating for the company in a report on Tuesday, January 9th. Truist Financial decreased their price target on Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday. Barclays cut their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating for the company in a research report on Friday, April 19th. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $72.00 to $68.00 and set an overweight rating on the stock in a report on Wednesday, February 21st. Finally, Susquehanna cut their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $53.83.

Caesars Entertainment Stock Up 0.5 %

CZR stock opened at $35.33 on Wednesday. Caesars Entertainment has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The stock has a fifty day moving average of $40.67 and a 200-day moving average of $43.08. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.01 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.74 and a current ratio of 0.69.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. Caesars Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. As a group, equities research analysts predict that Caesars Entertainment will post 0.23 earnings per share for the current year.

Insider Transactions at Caesars Entertainment

In other news, Director Michael E. Pegram purchased 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Caesars Entertainment in the fourth quarter worth about $102,213,000. AQR Capital Management LLC grew its stake in Caesars Entertainment by 938.7% in the third quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after purchasing an additional 942,621 shares during the period. Capital World Investors raised its holdings in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Caesars Entertainment by 481.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock worth $42,087,000 after acquiring an additional 751,938 shares in the last quarter. Finally, Blackstone Inc. purchased a new position in Caesars Entertainment during the 3rd quarter valued at about $34,762,000. 91.79% of the stock is 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.