Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $32.69 Average PT from Analysts
by Mitch Edgeman · The Markets DailyShares of Caesars Entertainment, Inc. (NASDAQ:CZR – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $31.7333.
CZR has been the topic of several research reports. Barclays lowered their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. reduced their target price on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Stifel Nicolaus lowered their target price on Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Morgan Stanley raised their price target on Caesars Entertainment from $25.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Finally, TD Cowen reissued a “buy” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st.
Read Our Latest Analysis on CZR
Caesars Entertainment Stock Performance
Shares of CZR stock opened at $26.53 on Friday. The stock has a market cap of $5.40 billion, a P/E ratio of -10.92 and a beta of 1.87. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The business has a fifty day simple moving average of $23.76 and a 200-day simple moving average of $23.40.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the company posted $0.05 earnings per share. Caesars Entertainment’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ING Groep NV lifted its stake in shares of Caesars Entertainment by 80.2% during the third quarter. ING Groep NV now owns 599,854 shares of the company’s stock valued at $16,211,000 after buying an additional 266,917 shares during the period. Assenagon Asset Management S.A. raised its holdings in Caesars Entertainment by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after acquiring an additional 2,490,924 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Caesars Entertainment by 56.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company’s stock valued at $45,953,000 after acquiring an additional 612,837 shares during the last quarter. LDR Capital Management LLC purchased a new position in shares of Caesars Entertainment during the 3rd quarter worth $1,172,000. Finally, Capital World Investors boosted its holdings in shares of Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
About Caesars Entertainment
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.