Jefferies Financial Group Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $62.00

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by research analysts at Jefferies Financial Group from $65.00 to $62.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 55.00% from the company’s current price.

Several other equities analysts have also commented on the stock. B. Riley started coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They set a “buy” rating and a $70.00 price target for the company. TD Cowen reduced their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Morgan Stanley upped their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Stifel Nicolaus reduced their price objective on shares of Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Barclays reduced their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Caesars Entertainment Trading Up 2.7 %

NASDAQ CZR opened at $40.00 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.65. The company’s fifty day simple moving average is $36.52 and its 200-day simple moving average is $40.42. The stock has a market cap of $8.66 billion, a P/E ratio of 11.33 and a beta of 2.98. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.82 billion. Equities research analysts predict that Caesars Entertainment will post 0.23 EPS for the current fiscal year.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram purchased 40,000 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the transaction, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Caesars Entertainment news, Director Michael E. Pegram bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $32.52, for a total value of $325,200.00. Following the transaction, the director now directly owns 350 shares in the company, valued at $11,382. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. Deutsche Bank AG increased its holdings in Caesars Entertainment by 2.6% in the 3rd quarter. Deutsche Bank AG now owns 464,585 shares of the company’s stock worth $21,534,000 after purchasing an additional 11,881 shares in the last quarter. Wellington Management Group LLP increased its holdings in Caesars Entertainment by 52.5% in the 3rd quarter. Wellington Management Group LLP now owns 21,866 shares of the company’s stock worth $1,013,000 after purchasing an additional 7,525 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Caesars Entertainment in the 3rd quarter worth about $3,692,000. Vanguard Group Inc. increased its holdings in Caesars Entertainment by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 23,411,856 shares of the company’s stock worth $1,085,140,000 after purchasing an additional 129,541 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Caesars Entertainment by 338.0% in the fourth quarter. Nordea Investment Management AB now owns 534,723 shares of the company’s stock valued at $25,223,000 after buying an additional 412,631 shares during the period. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

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.