Wells Fargo slashes price target on Caesars Entertainment Inc. [CZR] – find out why.


Caesars Entertainment Inc. [NASDAQ: CZR] slipped around -1.99 points on Thursday, while shares priced at $50.16 at the close of the session, down -3.82%. The company report on June 9, 2022 that CAESARS ENTERTAINMENT FORMS STRATEGIC PARTNERSHIP WITH PEYTON MANNING’S OMAHA PRODUCTIONS.

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Multiyear partnership taps Manning and Omaha Productions to conceive, create and produce digital content.

Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”), the largest casino-entertainment company in the U.S., today announced a multiyear strategic partnership with Peyton Manning’s Omaha Productions. Together, Caesars Sportsbook and Omaha Productions will launch the Omaha Audio Network, a full-service audio production network, a variety of new digital series developed specifically for Caesars Entertainment and Omaha Productions’ social media channels, and a live event series later this year.

Caesars Entertainment Inc. stock is now -46.37% down from its year-to-date (YTD) trading value. CZR Stock saw the intraday high of $52.13 and lowest of $49.82 per share. The company’s 52-week high price is 119.81, which means current price is +17.77% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.26M shares, CZR reached a trading volume of 3066387 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Caesars Entertainment Inc. [CZR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CZR shares is $107.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CZR stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Caesars Entertainment Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 23, 2022. While these analysts kept the previous recommendation, Stifel dropped their target price from $138 to $120. The new note on the price target was released on February 23, 2022, representing the official price target for Caesars Entertainment Inc. stock. Previously, the target price had yet another drop from $110 to $105, while Deutsche Bank kept a Buy rating on CZR stock. On February 23, 2022, analysts decreased their price target for CZR shares from 125 to 110.

The Average True Range (ATR) for Caesars Entertainment Inc. is set at 3.60, with the Price to Sales ratio for CZR stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 2.84. Price to Free Cash Flow for CZR in the course of the last twelve months was 59.26 with Quick ratio for the last quarter at 1.00.

How has CZR stock performed recently?

Caesars Entertainment Inc. [CZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.30. With this latest performance, CZR shares dropped by -1.20% in over the last four-week period, additionally sinking by -46.21% over the last 6 months – not to mention a drop of -54.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CZR stock in for the last two-week period is set at 42.74, with the RSI for the last a single of trading hit 44.48, and the three-weeks RSI is set at 41.65 for Caesars Entertainment Inc. [CZR]. The present Moving Average for the last 50 days of trading for this stock 60.70, while it was recorded at 51.52 for the last single week of trading, and 85.58 for the last 200 days.

Caesars Entertainment Inc. [CZR]: Deeper insight into the fundamentals

Caesars Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Caesars Entertainment Inc. [CZR]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CZR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Caesars Entertainment Inc. go to 27.50%.

Insider trade positions for Caesars Entertainment Inc. [CZR]

There are presently around $10,752 million, or 97.00% of CZR stock, in the hands of institutional investors. The top three institutional holders of CZR stocks are: VANGUARD GROUP INC with ownership of 21,843,353, which is approximately 1.346% of the company’s market cap and around 0.40% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 20,877,113 shares of the stock with an approximate value of $1.09 billion in CZR stocks shares; and FMR LLC, currently with $884.42 million in CZR stock with ownership of nearly -9.865% of the company’s market capitalization.

270 institutional holders increased their position in Caesars Entertainment Inc. [NASDAQ:CZR] by around 20,310,287 shares. Additionally, 299 investors decreased positions by around 17,916,000 shares, while 59 investors held positions by with 167,952,232 shares. The mentioned changes placed institutional holdings at 206,178,519 shares, according to the latest SEC report filing. CZR stock had 61 new institutional investments in for a total of 3,066,952 shares, while 97 institutional investors sold positions of 3,732,967 shares during the same period.