Caesars Entertainment, Inc. (NASDAQ:CZR) Receives Consensus Rating of “Hold” from Analysts

Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) has received an average recommendation of “Hold” from the seventeen research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $71.47.

Several analysts have recently weighed in on the stock. Susquehanna dropped their price objective on shares of Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating for the company in a report on Monday, October 3rd. Cowen dropped their price objective on shares of Caesars Entertainment to $75.00 in a report on Thursday, October 20th. StockNews.com began coverage on shares of Caesars Entertainment in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company increased their price target on shares of Caesars Entertainment from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, November 2nd. Finally, Susquehanna Bancshares decreased their price target on shares of Caesars Entertainment from $32.00 to $27.00 and set a “negative” rating on the stock in a research note on Monday, October 3rd.

Insider Transactions at Caesars Entertainment

In other news, Director Michael E. Pegram purchased 25,000 shares of Caesars Entertainment stock in a transaction dated Friday, November 4th. The shares were bought at an average cost of $44.74 per share, with a total value of $1,118,500.00. Following the completion of the transaction, the director now directly owns 96,697 shares in the company, valued at approximately $4,326,223.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Caesars Entertainment by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 22,308,591 shares of the company’s stock valued at $719,676,000 after acquiring an additional 224,057 shares in the last quarter. Capital Research Global Investors increased its stake in Caesars Entertainment by 20.5% in the 1st quarter. Capital Research Global Investors now owns 20,877,113 shares of the company’s stock valued at $1,615,057,000 after buying an additional 3,548,997 shares during the last quarter. FMR LLC increased its stake in Caesars Entertainment by 13.0% in the 2nd quarter. FMR LLC now owns 19,165,674 shares of the company’s stock valued at $734,045,000 after buying an additional 2,206,419 shares during the last quarter. Capital World Investors increased its stake in Caesars Entertainment by 17.5% in the 1st quarter. Capital World Investors now owns 12,756,091 shares of the company’s stock valued at $986,811,000 after buying an additional 1,902,200 shares during the last quarter. Finally, Point Break Capital Management LLC increased its stake in Caesars Entertainment by 10.3% in the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after buying an additional 987,230 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $44.11 on Monday. Caesars Entertainment has a 12-month low of $31.31 and a 12-month high of $91.59. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 6.53. The firm has a market capitalization of $9.46 billion, a PE ratio of -7.96 and a beta of 2.83. The firm has a 50-day moving average price of $46.91 and a 200 day moving average price of $43.86.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.84 billion. Caesars Entertainment had a negative net margin of 11.18% and a negative return on equity of 15.21%. Research analysts anticipate that Caesars Entertainment will post -1.57 earnings per share for the current fiscal year.

About Caesars Entertainment

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Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.