Caesars Entertainment, Inc. (NASDAQ:CZR) Stock Has Average Price Target of $30.71

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have received an average rating of “Hold” from the nineteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.71.

CZR has been the subject of several research reports. Barclays reaffirmed an “equal weight” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. TD Cowen cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Wednesday, July 29th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a report on Thursday, August 13th.

Caesars Entertainment Price Performance

CZR opened at $28.80 on Thursday. The stock has a 50-day moving average price of $29.62 and a 200-day moving average price of $29.01. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $5.87 billion, a P/E ratio of -12.63 and a beta of 1.85.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) earnings per share. Equities analysts predict that Caesars Entertainment will post -0.90 earnings per share for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In related news, CMO Josh Jones sold 59,507 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Tomick sold 7,142 shares of Caesars Entertainment stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total transaction of $212,188.82. Following the completion of the transaction, the director owned 17,769 shares in the company, valued at approximately $527,916.99. The trade was a 28.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 322,682 shares of company stock worth $9,565,403 in the last quarter. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new stake in shares of Caesars Entertainment in the 2nd quarter valued at about $30,967,000. Jefferies Financial Group Inc. purchased a new stake in Caesars Entertainment during the 2nd quarter valued at about $1,110,000. Man Group plc bought a new position in Caesars Entertainment during the 2nd quarter worth approximately $32,953,000. Bank of America Corp DE bought a new position in Caesars Entertainment during the 2nd quarter worth approximately $96,169,000. Finally, Tidal Investments LLC grew its position in Caesars Entertainment by 198.6% during the 2nd quarter. Tidal Investments LLC now owns 292,248 shares of the company’s stock worth $8,820,000 after acquiring an additional 194,361 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company headquartered in Reno, Nevada. The company operates casino resorts and hotels across the United States, offering gaming, accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other resort amenities. Its properties operate under brands including Caesars, Harrah’s, Horseshoe, Paris, Flamingo, Planet Hollywood, The LINQ and Eldorado.

In addition to its physical properties, Caesars provides online sports betting and iGaming services through Caesars Sportsbook and related digital platforms, subject to state and regulatory approvals.