Caesars Entertainment (NASDAQ:CZR) Given New $63.00 Price Target at Barclays

Caesars Entertainment (NASDAQ:CZR) had its target price lowered by Barclays from $65.00 to $63.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an overweight rating for the company in a research note on Tuesday, January 9th. JMP Securities cut their price objective on shares of Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating for the company in a research note on Friday. StockNews.com cut shares of Caesars Entertainment from a buy rating to a hold rating in a research note on Monday, January 1st. Susquehanna cut their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company dropped their price target on shares of Caesars Entertainment from $72.00 to $68.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has an average rating of Moderate Buy and an average price target of $57.73.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $38.20 on Friday. The company’s fifty day moving average price is $41.75 and its 200-day moving average price is $43.60. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.52 and a beta of 2.81. Caesars Entertainment has a one year low of $37.81 and a one year high of $60.27. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company earned ($0.11) EPS. Caesars Entertainment’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Caesars Entertainment will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at Caesars Entertainment

In related news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, with a total value of $621,750.00. Following the transaction, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Caesars Entertainment in the 4th quarter worth approximately $112,358,000. Point Break Capital Management LLC lifted its stake in Caesars Entertainment by 10.3% in the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock worth $821,396,000 after purchasing an additional 987,230 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Caesars Entertainment by 938.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock worth $48,345,000 after buying an additional 942,621 shares during the last quarter. Capital World Investors increased its holdings in shares of Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares during the last quarter. Finally, Wolf Hill Capital Management LP grew its holdings in Caesars Entertainment by 141.3% during the 1st quarter. Wolf Hill Capital Management LP now owns 1,539,986 shares of the company’s stock valued at $75,167,000 after purchasing an additional 901,884 shares during the last quarter. 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.