Caesars Entertainment (NASDAQ:CZR) Now Covered by B. Riley

Stock analysts at B. Riley initiated coverage on shares of Caesars Entertainment (NASDAQ:CZR) in a report issued on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $70.00 price target on the stock. B. Riley’s price objective points to a potential upside of 93.26% from the company’s previous close.

Several other equities research analysts have also weighed in on CZR. TD Cowen reduced their price objective on Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Susquehanna decreased their target price on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Morgan Stanley raised their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus decreased their target price on Caesars Entertainment from $67.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.08.

Caesars Entertainment Stock Down 0.4 %

Shares of Caesars Entertainment stock opened at $36.22 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 business’s 50 day simple moving average is $40.36 and its 200-day simple moving average is $42.96. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 10.26 and a beta of 2.83. Caesars Entertainment has a twelve month low of $35.09 and a twelve month high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Caesars Entertainment will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram bought 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the purchase, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael E. Pegram purchased 40,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the acquisition, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Pegram purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the acquisition, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently bought and sold shares of the business. Assetmark Inc. grew its holdings in shares of Caesars Entertainment by 10.6% in the 3rd quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after buying an additional 261 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Caesars Entertainment by 0.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock valued at $1,625,000 after buying an additional 285 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Caesars Entertainment by 4.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock valued at $354,000 after buying an additional 295 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Caesars Entertainment by 13.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock valued at $148,000 after buying an additional 376 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Caesars Entertainment by 8.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.