Brokerages Set Caesars Entertainment, Inc. (NASDAQ:CZR) PT at $53.86

Caesars Entertainment, Inc. (NASDAQ:CZR) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $53.86.

A number of brokerages have commented on CZR. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays lowered their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Macquarie restated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Finally, JMP Securities lowered their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in CZR. Hsbc Holdings PLC raised its position in shares of Caesars Entertainment by 42.7% in the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after purchasing an additional 145,201 shares during the last quarter. Entropy Technologies LP acquired a new position in Caesars Entertainment during the 3rd quarter valued at approximately $1,300,000. LMR Partners LLP purchased a new position in shares of Caesars Entertainment in the third quarter worth $903,000. Gabelli Funds LLC lifted its stake in shares of Caesars Entertainment by 28.0% during the second quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after buying an additional 31,500 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Caesars Entertainment during the third quarter valued at $2,998,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $37.11 on Monday. The stock has a 50 day moving average price of $40.85 and a 200 day moving average price of $38.58. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a market capitalization of $7.89 billion, a P/E ratio of -22.22 and a beta of 2.89.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that Caesars Entertainment will post -0.56 earnings per share for the current year.

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.