Caesars Entertainment (NASDAQ:CZR) Given New $35.00 Price Target at TD Cowen

Caesars Entertainment (NASDAQ:CZR) had its price objective dropped by investment analysts at TD Cowen from $40.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 51.61% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Macquarie cut their price target on Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Jefferies Financial Group downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $22.00 in a research note on Tuesday, November 4th. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Finally, Morgan Stanley decreased their target price on Caesars Entertainment from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.61.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded up $0.24 during midday trading on Wednesday, reaching $23.09. 4,517,215 shares of the company’s stock traded hands, compared to its average volume of 4,743,315. Caesars Entertainment has a one year low of $18.25 and a one year high of $40.00. The stock has a 50 day moving average of $23.21 and a 200 day moving average of $24.61. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -20.09, a P/E/G ratio of 5.19 and a beta of 2.03. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Caesars Entertainment’s revenue was down .2% on a year-over-year basis. As a group, equities research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Caesars Entertainment during the 4th quarter valued at $120,000. FNY Investment Advisers LLC lifted its position in shares of Caesars Entertainment by 55.3% during the 4th quarter. FNY Investment Advisers LLC now owns 5,500 shares of the company’s stock worth $128,000 after purchasing an additional 1,958 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the last quarter. Hickory Point Bank & Trust acquired a new stake in shares of Caesars Entertainment in the fourth quarter worth $333,000. Finally, DAVENPORT & Co LLC boosted its holdings in Caesars Entertainment by 0.4% in the 4th quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock valued at $101,797,000 after purchasing an additional 18,414 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.