Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $32.80 Consensus Price Target from Analysts

Caesars Entertainment, Inc. (NASDAQ:CZR) has been given an average rating of “Hold” by the nineteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $32.5333.

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Citigroup lifted their price target on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Texas Capital cut shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st.

Caesars Entertainment Stock Performance

Shares of CZR opened at $29.22 on Friday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of -12.33 and a beta of 1.77. The company’s 50 day simple moving average is $28.10 and its 200 day simple moving average is $25.38. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted ($0.54) earnings per share. Caesars Entertainment’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Caesars Entertainment will post -0.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 293,463 shares of company stock worth $8,609,241. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its holdings in shares of Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after acquiring an additional 918 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the last quarter. Finally, Stance Capital LLC bought a new position in shares of Caesars Entertainment during the third quarter worth about $43,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Company Profile

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.