Analysts Set Caesars Entertainment, Inc. (NASDAQ:CZR) PT at $45.64

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.77.

CZR has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Susquehanna raised their price objective on Caesars Entertainment from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Capital One Financial raised shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $51.00 to $47.00 in a report on Thursday, April 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $45.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, April 30th.

Caesars Entertainment Stock Performance

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

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned ($0.73) earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities research analysts anticipate 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 have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after buying an additional 59,170 shares during the period. Czech National Bank lifted its position in Caesars Entertainment by 4.6% in the 4th quarter. Czech National Bank now owns 46,079 shares of the company’s stock valued at $1,540,000 after purchasing an additional 2,009 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after purchasing an additional 1,697,443 shares during the period. Key Colony Management LLC bought a new position in Caesars Entertainment in the 4th quarter worth about $6,350,000. Finally, Aspire Private Capital LLC increased its stake in shares of Caesars Entertainment by 48.3% in the fourth quarter. Aspire Private Capital LLC now owns 7,683 shares of the company’s stock valued at $257,000 after purchasing an additional 2,503 shares during the period. 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.