Wells Fargo & Company Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target cut by equities research analysts at Wells Fargo & Company from $53.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 50.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. TD Cowen cut their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group cut their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.64.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $33.25 on Wednesday. The firm’s fifty day simple moving average is $34.68 and its two-hundred day simple moving average is $37.81. The firm has a market capitalization of $7.06 billion, a P/E ratio of -19.91 and a beta of 2.90. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.20. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CZR. Bogart Wealth LLC increased its position in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 800 shares during the last quarter. FIL Ltd purchased a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $28,000. Huntington National Bank increased its holdings in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after buying an additional 833 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at approximately $44,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Caesars Entertainment by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after acquiring an additional 800 shares during the last quarter. 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.