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

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.7143.

Several equities research analysts have recently commented on CZR shares. Jefferies Financial Group upped their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a report on Friday, May 29th. Raymond James Financial cut Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Finally, Citizens Jmp raised their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The SEC filing for this sale provides additional information. Insiders sold a total of 293,463 shares of company stock valued at $8,609,241 over the last three months. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CZR. Caitong International Asset Management Co. Ltd increased its stake in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying 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 acquiring an additional 672 shares during the period. 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 valued at $37,000 after acquiring an additional 488 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after acquiring an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after acquiring an additional 702 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $29.73 on Friday. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $30.88. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -13.04 and a beta of 1.76. 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 firm has a 50 day moving average of $29.66 and a 200 day moving average of $26.72.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business posted ($0.39) earnings per share. On average, research analysts anticipate that Caesars Entertainment will post -0.75 earnings per share for the current year.

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.