Caesars Entertainment (NASDAQ:CZR) PT Lowered to $87.00 at Cowen

Caesars Entertainment (NASDAQ:CZR – Get Rating) had its price objective trimmed by Cowen from $105.00 to $87.00 in a report released on Wednesday, The Fly reports.

Several other research firms also recently issued reports on CZR. Susquehanna started coverage on Caesars Entertainment in a research report on Wednesday, July 20th. They set a neutral rating and a $32.00 target price on the stock. Morgan Stanley dropped their target price on Caesars Entertainment from $122.00 to $99.00 and set an overweight rating on the stock in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Caesars Entertainment from $90.00 to $64.00 in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $65.00 to $64.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on Caesars Entertainment from $113.00 to $63.00 in a research report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $88.00.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $47.67 on Wednesday. The company has a market cap of $10.22 billion, a price-to-earnings ratio of -6.93 and a beta of 2.79. The business’s 50 day simple moving average is $43.42 and its 200 day simple moving average is $61.76. Caesars Entertainment has a 12 month low of $35.10 and a 12 month high of $119.81. 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:CZR – Get Rating) last posted its earnings results on Tuesday, May 3rd. The company reported ($2.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.15) by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. Caesars Entertainment had a negative return on equity of 19.99% and a negative net margin of 14.14%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.06) earnings per share. Sell-side analysts forecast that Caesars Entertainment will post -1.56 EPS for the current year.

Insider Activity

In related news, Director Don R. Kornstein acquired 4,000 shares of Caesars Entertainment stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $39.60 per share, with a total value of $158,400.00. Following the completion of the purchase, the director now owns 30,853 shares of the company’s stock, valued at $1,221,778.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Don R. Kornstein acquired 4,000 shares of Caesars Entertainment stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $39.60 per share, with a total value of $158,400.00. Following the completion of the purchase, the director now owns 30,853 shares of the company’s stock, valued at $1,221,778.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the firm’s 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. Insiders own 0.55% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. Capital Research Global Investors boosted its holdings in shares of Caesars Entertainment by 20.5% during the first quarter. Capital Research Global Investors now owns 20,877,113 shares of the company’s stock worth $1,615,057,000 after purchasing an additional 3,548,997 shares during the period. Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $178,319,000. Capital World Investors boosted its holdings in shares of Caesars Entertainment by 17.5% during the first quarter. Capital World Investors now owns 12,756,091 shares of the company’s stock worth $986,811,000 after purchasing an additional 1,902,200 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Caesars Entertainment during the first quarter worth about $77,785,000. Finally, HG Vora Capital Management LLC purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth about $93,530,000. 94.75% of the stock is currently owned by hedge funds and other institutional investors.

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.