Barclays Reiterates Equal Weight Rating for Caesars Entertainment (NASDAQ:CZR)

Caesars Entertainment (NASDAQ:CZR)‘s stock had its “equal weight” rating restated by investment analysts at Barclays in a report issued on Thursday, MarketBeat reports. They currently have a $31.00 target price on the stock, down from their prior target price of $35.00. Barclays‘s price target points to a potential upside of 3.89% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Jefferies Financial Group raised their target price on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, April 6th. Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Zacks Research lowered Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley lifted their target price on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.00.

Caesars Entertainment Trading Up 0.2%

Caesars Entertainment stock opened at $29.84 on Thursday. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $31.23. The stock has a market capitalization of $6.08 billion, a PE ratio of -12.59 and a beta of 1.76. The firm has a 50 day simple moving average of $28.94 and a 200-day simple moving average of $26.07. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the company earned ($0.54) EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Caesars Entertainment will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its holdings in Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after acquiring an additional 846 shares in the last quarter. Finally, Stance Capital LLC acquired a new position in shares of Caesars Entertainment during the 3rd quarter valued at about $43,000. Institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.