Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $45.64 Average Target Price from Brokerages

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $43.77.

Several research firms have recently commented on CZR. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and issued a $45.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, April 30th. Barclays boosted their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. TD Cowen reduced their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price objective on Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $28.03 on Thursday. The business’s 50-day moving average price is $26.73 and its 200 day moving average price is $33.04. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market cap of $5.83 billion, a P/E ratio of -16.78 and a beta of 2.51. Caesars Entertainment has a 52-week low of $21.40 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last released its earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm posted ($0.73) EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FIL Ltd purchased a new position in shares of Caesars Entertainment during the 4th quarter worth approximately $28,000. Bogart Wealth LLC increased its position in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after buying an additional 800 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock worth $26,000 after acquiring an additional 405 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at $44,000. Finally, Allworth Financial LP boosted its stake in shares of Caesars Entertainment by 97.8% during the first quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after acquiring an additional 662 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.