Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $30.71 Average Price Target from Brokerages

Caesars Entertainment, Inc. (NASDAQ:CZR) has been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $30.7143.

A number of brokerages recently commented on CZR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Barclays restated an “equal weight” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their target price for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Texas Capital downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. restated 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.

Caesars Entertainment Trading Up 0.3%

Shares of CZR stock opened at $30.13 on Friday. Caesars Entertainment has a 52-week low of $17.86 and a 52-week high of $30.88. 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 company has a 50-day simple moving average of $29.76 and a two-hundred day simple moving average of $26.86. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -13.21 and a beta of 1.77.

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

Insider Transactions at Caesars Entertainment

In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment 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 sale, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 293,463 shares of company stock worth $8,609,241. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased 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 buying an additional 363 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after acquiring an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Caesars Entertainment by 1.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after acquiring an additional 493 shares during the period. Corient Private Wealth LLC increased its stake in shares of Caesars Entertainment by 3.5% in the 2nd 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Caesars Entertainment by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after purchasing an additional 562 shares in the last quarter. Hedge funds and other institutional investors 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.