Analysts Set Caesars Entertainment, Inc. (NASDAQ:CZR) PT at $30.71

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have been given an average rating of “Hold” by the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $30.7143.

Several brokerages recently issued reports on CZR. Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th.

Caesars Entertainment Stock Up 0.3%

CZR stock opened at $29.73 on Wednesday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -13.04 and a beta of 1.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The business’s 50-day moving average is $29.87 and its two-hundred day moving average is $27.68. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $30.88.

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

Insider Buying and Selling at Caesars Entertainment

In other news, Director Blackhurst Janis L. Jones sold 33,899 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $29.63, for a total value of $1,004,427.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 595,003 shares of company stock valued at $17,547,145 in the last ninety days. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA lifted its holdings in Caesars Entertainment by 1.2% during the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after purchasing an additional 363 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Caesars Entertainment by 1.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after purchasing an additional 493 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after purchasing an additional 549 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Caesars Entertainment by 1.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock valued at $959,000 after purchasing an additional 562 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the period. 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.