Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $35.56 Average Price Target from Analysts

Caesars Entertainment, Inc. (NASDAQ:CZR) has received an average recommendation of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.3333.

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $22.00 in a research note on Tuesday, November 4th. JMP Securities reduced their price objective on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 17th. Stifel Nicolaus lowered their target price on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company began coverage on Caesars Entertainment in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th.

Caesars Entertainment Stock Down 3.9%

Shares of NASDAQ CZR opened at $24.35 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The business’s 50 day moving average is $23.15 and its two-hundred day moving average is $24.66. Caesars Entertainment has a 52-week low of $18.25 and a 52-week high of $40.00. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -21.17, a PEG ratio of 4.99 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Research analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors raised its stake in Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after buying an additional 3,716,148 shares in the last quarter. State Street Corp lifted its stake in Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Caesars Entertainment by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after purchasing an additional 18,414 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after purchasing an additional 2,490,924 shares in the last quarter. Finally, Norges Bank purchased a new position in Caesars Entertainment in the second quarter valued at approximately $79,604,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.