Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $64.00

Caesars Entertainment (NASDAQ:CZRGet Rating) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $90.00 to $64.00 in a research report report published on Wednesday morning, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Barclays upped their price objective on Caesars Entertainment from $56.00 to $65.00 in a research note on Wednesday. Susquehanna began coverage on Caesars Entertainment in a research note on Wednesday, July 20th. They set a neutral rating and a $32.00 price objective for the company. Morgan Stanley decreased their price objective on Caesars Entertainment from $122.00 to $99.00 and set an overweight rating for the company in a research note on Monday, April 25th. B. Riley decreased their price objective on Caesars Entertainment from $149.00 to $128.00 and set a buy rating for the company in a research note on Tuesday, June 28th. Finally, Bank of America decreased their price objective on Caesars Entertainment from $110.00 to $95.00 and set a buy rating for the company in a research note on Monday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $88.00.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $47.67 on Wednesday. Caesars Entertainment has a twelve month low of $35.10 and a twelve month high of $119.81. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of -6.93 and a beta of 2.79. The stock has a fifty day simple moving average of $43.42 and a two-hundred day simple moving average of $61.76. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 6.82.

Caesars Entertainment (NASDAQ:CZRGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported ($2.11) earnings per share for the quarter, topping the consensus estimate of ($2.15) by $0.04. Caesars Entertainment had a negative return on equity of 19.99% and a negative net margin of 14.14%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned ($2.06) EPS. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, analysts predict that Caesars Entertainment will post -1.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Don R. Kornstein acquired 4,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were acquired at an average cost of $39.60 per share, with a total value of $158,400.00. Following the completion of the acquisition, the director now owns 30,853 shares of the company’s stock, valued at $1,221,778.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Don R. Kornstein acquired 4,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were acquired at an average cost of $39.60 per share, with a total value of $158,400.00. Following the completion of the acquisition, the director now owns 30,853 shares of the company’s stock, valued at $1,221,778.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $52.00, for a total value of $140,140.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of CZR. Janney Montgomery Scott LLC grew its holdings in Caesars Entertainment by 18.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,394 shares of the company’s stock worth $411,000 after acquiring an additional 695 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Caesars Entertainment during the fourth quarter worth about $1,272,000. Illinois Municipal Retirement Fund grew its holdings in Caesars Entertainment by 32.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,467 shares of the company’s stock worth $792,000 after acquiring an additional 2,098 shares during the period. Yousif Capital Management LLC acquired a new stake in Caesars Entertainment during the fourth quarter worth about $2,109,000. Finally, CWM LLC acquired a new stake in Caesars Entertainment during the fourth quarter worth about $122,000. 94.75% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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