Barclays Increases Caesars Entertainment (NASDAQ:CZR) Price Target to $59.00

Caesars Entertainment (NASDAQ:CZR) had its price objective increased by Barclays from $56.00 to $59.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley lowered their price target on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Susquehanna reaffirmed a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Stifel Nicolaus raised their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their target price on Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.38.

Caesars Entertainment Stock Performance

Shares of CZR opened at $45.18 on Thursday. The business’s fifty day simple moving average is $39.77 and its two-hundred day simple moving average is $38.09. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 12.80 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share 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 the consensus estimate of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. Research analysts anticipate that Caesars Entertainment will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors grew its position in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP grew its position in shares of Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock valued at $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Caesars Entertainment by 6,568.4% during the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after purchasing an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd purchased a new position in shares of Caesars Entertainment during the second quarter valued at about $37,763,000. 91.79% of the stock is owned by 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.