Caesars Entertainment (NASDAQ:CZR) Given New $58.00 Price Target at Wells Fargo & Company

Caesars Entertainment (NASDAQ:CZR - Free Report) had its price objective hoisted by Wells Fargo & Company from $56.00 to $58.00 in a research note released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on CZR. StockNews.com cut Caesars Entertainment from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Barclays boosted their price target on Caesars Entertainment from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday. Susquehanna reissued a "negative" rating and issued a $33.00 price target on shares of Caesars Entertainment in a report on Wednesday, July 31st. Jefferies Financial Group cut their price target on Caesars Entertainment from $62.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Finally, JMP Securities reissued a "market outperform" rating and issued a $59.00 price target on shares of Caesars Entertainment in a report on Monday. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.38.

Caesars Entertainment Price Performance

Shares of CZR traded up $0.91 during mid-day trading on Thursday, hitting $45.55. The company's stock had a trading volume of 2,459,229 shares, compared to its average volume of 4,188,243. 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 firm has a 50-day simple moving average of $39.58 and a 200 day simple moving average of $38.10. The firm has a market capitalization of $9.86 billion, a P/E ratio of 12.90 and a beta of 2.97. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $50.51.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) 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 revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. Analysts predict that Caesars Entertainment will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Caesars Entertainment by 0.3% during the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company's stock valued at $1,033,829,000 after acquiring an additional 75,898 shares during the period. Capital Research Global Investors boosted its position in shares of Caesars Entertainment by 26.9% in the first 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. Janus Henderson Group PLC boosted its position in shares of Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company's stock worth $420,633,000 after buying an additional 233,250 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company's stock worth $232,847,000 after buying an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP boosted its position in shares of Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company's stock worth $96,228,000 after buying an additional 1,700,000 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.

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.