Wells Fargo & Company Increases Caesars Entertainment (NASDAQ:CZR) Price Target to $56.00

Caesars Entertainment (NASDAQ:CZR) had its price objective hoisted by investment analysts at Wells Fargo & Company from $53.00 to $56.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 36.95% from the company’s previous close.

Several other research firms have also commented on CZR. Stifel Nicolaus lifted their price target on Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 report on Wednesday, May 1st. Raymond James began coverage on shares of Caesars Entertainment in a research note on Tuesday, May 21st. They set a “strong-buy” rating and a $55.00 price objective for the company. TD Cowen reduced their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, B. Riley started coverage on shares of Caesars Entertainment in a report on Thursday, May 9th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.53.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded up $3.99 during mid-day trading on Wednesday, reaching $40.89. The stock had a trading volume of 6,670,086 shares, compared to its average volume of 3,951,449. The business’s 50 day moving average price is $36.67 and its 200 day moving average price is $39.55. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $59.50. The company has a market cap of $8.85 billion, a P/E ratio of 11.55 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.

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

Insider Transactions at Caesars Entertainment

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now directly owns 350 shares in the company, valued at $11,382. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael E. Pegram acquired 40,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the transaction, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $32.52, for a total transaction of $325,200.00. Following the sale, the director now directly owns 350 shares of the company’s stock, valued at approximately $11,382. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of large investors have recently made changes to their positions in the business. Capital Research Global Investors grew its stake in Caesars Entertainment by 26.9% during the 1st 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 last quarter. Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $102,213,000. Nut Tree Capital Management LP increased its holdings 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 valued at $96,228,000 after acquiring an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Caesars Entertainment by 35.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares during the last quarter. Finally, Helikon Investments Ltd purchased a new stake in shares of Caesars Entertainment during the second quarter valued at $37,763,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Company Profile

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.