Wells Fargo & Company Boosts Caesars Entertainment (NASDAQ:CZR) Price Target to $58.00

Caesars Entertainment (NASDAQ:CZR) had its price objective lifted by equities researchers at Wells Fargo & Company from $56.00 to $58.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 28.35% from the stock’s current price.

Several other analysts have also recently commented on the company. Barclays increased their target price on Caesars Entertainment from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus raised their price objective 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. JMP Securities reiterated a “market outperform” rating and set a $59.00 target price on shares of Caesars Entertainment in a research report on Monday. StockNews.com lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Susquehanna reaffirmed a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.38.

Caesars Entertainment Price Performance

CZR stock traded up $0.55 during trading on Thursday, hitting $45.19. 629,536 shares of the stock traded hands, compared to its average volume of 4,179,140. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 12.74 and a beta of 2.97. Caesars Entertainment has a one year low of $31.74 and a one year high of $50.51. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The company has a 50 day simple moving average of $39.39 and a 200 day simple moving average of $38.05.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. Equities analysts expect that Caesars Entertainment will post -0.16 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently modified their holdings of CZR. Capital Research Global Investors raised 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 period. Nut Tree Capital Management LP lifted its holdings in shares of Caesars Entertainment by 340.0% during the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. grew 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 period. SG Americas Securities LLC increased its stake in Caesars Entertainment by 6,568.4% during the 3rd quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new stake in Caesars Entertainment during the 2nd quarter worth approximately $37,763,000. 91.79% of the stock is currently 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.