Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $30.71 Consensus PT from Brokerages

Caesars Entertainment, Inc. (NASDAQ:CZR) has earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.7143.

A number of research firms have recently weighed in on CZR. Wells Fargo & Company upped their target price on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Truist Financial downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Barclays reiterated an “equal weight” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st.

Caesars Entertainment Price Performance

CZR stock opened at $29.62 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $30.88. The firm has a 50-day moving average of $29.77 and a 200 day moving average of $28.70. The company has a market cap of $6.04 billion, a P/E ratio of -12.99 and a beta of 1.75.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.39) EPS. On average, sell-side analysts forecast that Caesars Entertainment will post -0.9 EPS for the current year.

Insider Activity at Caesars Entertainment

In related news, CMO Josh Jones sold 59,507 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $29.72, for a total transaction of $1,768,548.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Janis Jones Blackhurst sold 33,899 shares of Caesars Entertainment stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The disclosure for this sale is available in the SEC filing. Insiders sold 322,682 shares of company stock valued at $9,565,403 over the last ninety days. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in CZR. Hsbc Holdings PLC bought a new stake in Caesars Entertainment during the second quarter valued at about $30,967,000. Jefferies Financial Group Inc. purchased a new position in Caesars Entertainment during the 2nd quarter valued at approximately $1,110,000. Man Group plc bought a new stake in Caesars Entertainment in the 2nd quarter worth approximately $32,953,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Caesars Entertainment during the 4th quarter valued at approximately $65,492,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.

The company operates a portfolio of well-known brands, including Caesars, Harrah’s, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.