Analysts Set Caesars Entertainment, Inc. (NASDAQ:CZR) PT at $35.39

Caesars Entertainment, Inc. (NASDAQ:CZR) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.3889.

A number of research analysts recently weighed in on CZR shares. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Jefferies Financial Group lowered Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $22.00 in a report on Tuesday, November 4th. Barclays reduced their price target on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Truist Financial dropped their price objective on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Morgan Stanley cut their target price on Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds have recently bought and sold shares of the company. Capital World Investors lifted its stake in Caesars Entertainment by 29.8% in the 3rd 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 in the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment in the second quarter worth $79,604,000. Hein Park Capital Management LP purchased a new stake in shares of Caesars Entertainment in the first quarter worth $60,492,000. Ossiam raised its position in shares of Caesars Entertainment by 7,760.9% in the third quarter. Ossiam now owns 1,883,007 shares of the company’s stock worth $50,888,000 after buying an additional 1,859,053 shares in the last quarter. Finally, HG Vora Capital Management LLC boosted its stake in Caesars Entertainment by 73.3% during the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after buying an additional 1,650,000 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $22.94 on Monday. The company has a market cap of $4.68 billion, a PE ratio of -19.95 and a beta of 2.32. Caesars Entertainment has a 52 week low of $18.25 and a 52 week high of $40.00. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The firm’s 50-day simple moving average is $22.58 and its two-hundred day simple moving average is $25.79.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business earned ($0.04) EPS. Caesars Entertainment’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts predict that Caesars Entertainment will post -0.77 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.