Wells Fargo & Company Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by equities researchers at Wells Fargo & Company from $58.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 30.29% from the company’s current price.

CZR has been the topic of several other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $59.00 price objective on shares of Caesars Entertainment in a research note on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their price target on Caesars Entertainment from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Susquehanna reissued a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded down $4.60 during midday trading on Wednesday, hitting $40.68. 4,143,584 shares of the company’s stock traded hands, compared to its average volume of 4,135,199. The firm has a fifty day moving average of $40.90 and a 200 day moving average of $38.14. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 11.69 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) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the business earned $0.34 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. Vanguard Group Inc. grew its position in shares of Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after purchasing an additional 75,898 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after buying an additional 20,692 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Caesars Entertainment by 201.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock worth $2,650,000 after acquiring an additional 40,517 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Caesars Entertainment by 249.0% during the 1st quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock worth $8,131,000 after acquiring an additional 132,720 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Caesars Entertainment by 263.2% during the 1st quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock valued at $15,111,000 after acquiring an additional 250,354 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

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.