Caesars Entertainment (NASDAQ:CZR) Now Covered by Analysts at Raymond James

Investment analysts at Raymond James began coverage on shares of Caesars Entertainment (NASDAQ:CZR) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a “strong-buy” rating and a $55.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 58.41% from the company’s current price.

Several other research analysts also recently weighed in on the stock. B. Riley began coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They issued a “buy” rating and a $70.00 target price on the stock. Stifel Nicolaus decreased their price target 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. Susquehanna decreased their price target on shares of Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Barclays reduced their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.07.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $34.72 on Tuesday. The firm’s 50 day simple moving average is $39.13 and its 200-day simple moving average is $42.64. The company has a market cap of $7.51 billion, a P/E ratio of 9.84 and a beta of 2.83. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.69 and a quick ratio of 0.67. Caesars Entertainment has a fifty-two week low of $34.38 and a fifty-two week high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.52). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. As a group, equities research analysts predict that Caesars Entertainment will post 0.13 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in CZR. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Caesars Entertainment during the 3rd quarter worth about $32,000. Altshuler Shaham Ltd acquired a new position in Caesars Entertainment during the 4th quarter worth about $45,000. Principal Securities Inc. acquired a new position in Caesars Entertainment during the 4th quarter worth about $46,000. Mather Group LLC. acquired a new position in Caesars Entertainment during the 1st quarter worth about $53,000. Finally, TFO Wealth Partners LLC lifted its position in Caesars Entertainment by 22,920.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after buying an additional 1,146 shares in the last quarter. 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.