Stifel Nicolaus Boosts Caesars Entertainment (NASDAQ:CZR) Price Target to $56.00

Caesars Entertainment (NASDAQ:CZR) had its price objective hoisted by equities researchers at Stifel Nicolaus from $54.00 to $56.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 37.52% from the company’s previous close.

CZR has been the topic of several other research reports. Barclays lowered their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Jefferies Financial Group dropped their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial cut their price target on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. Finally, JMP Securities cut their target price on Caesars Entertainment from $60.00 to $58.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Caesars Entertainment Stock Performance

Caesars Entertainment stock traded up $3.82 during trading on Wednesday, reaching $40.72. The company had a trading volume of 5,196,542 shares, compared to its average volume of 3,941,356. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 11.46 and a beta of 2.98. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. The firm’s 50-day simple moving average is $36.67 and its 200 day simple moving average is $39.55. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $59.50.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.52). The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. Sell-side analysts forecast that Caesars Entertainment will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $31.96 per share, for a total transaction of $319,600.00. Following the transaction, the director now owns 191,697 shares of the company’s stock, valued at $6,126,636.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Michael E. Pegram bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now owns 191,697 shares in the company, valued at $6,126,636.12. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael E. Pegram purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the acquisition, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The disclosure for this purchase can be found here. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Caesars Entertainment in the 4th quarter valued at $45,000. Principal Securities Inc. purchased a new stake in Caesars Entertainment in the fourth quarter worth $46,000. Mather Group LLC. purchased a new stake in shares of Caesars Entertainment during the first quarter valued at $53,000. Finally, TFO Wealth Partners LLC increased its stake in Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares during the period. 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.