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

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have been given an average recommendation of “Hold” by the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.00.

Several analysts recently weighed in on the company. Citigroup increased their price target on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Citizens Jmp boosted their price objective on shares of Caesars Entertainment from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Barclays reissued an “equal weight” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Raymond James Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th.

Caesars Entertainment Trading Down 0.6%

Shares of NASDAQ CZR opened at $29.66 on Tuesday. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.06. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The business’s 50 day moving average is $28.98 and its two-hundred day moving average is $26.11. The stock has a market capitalization of $6.04 billion, a P/E ratio of -12.51 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. Caesars Entertainment’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.54) earnings per share. As a group, research analysts expect that Caesars Entertainment will post -0.49 EPS for the current year.

Insider Activity at Caesars Entertainment

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael E. Pegram sold 55,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $1,606,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 293,463 shares of company stock valued at $8,609,241 in the last 90 days. Company insiders own 1.18% of the company’s stock.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after purchasing an additional 4,937,998 shares during the period. Morgan Stanley increased its stake in Caesars Entertainment by 121.0% in the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after buying an additional 3,910,430 shares during the period. Capital World Investors increased 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 buying an additional 3,716,148 shares during the period. Norges Bank bought a new stake in Caesars Entertainment during the 4th quarter valued at about $76,050,000. Finally, MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment in the 4th quarter valued at about $65,492,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.