Brokerages Set Caesars Entertainment, Inc. (NASDAQ:CZR) Target Price at $53.71

Caesars Entertainment, Inc. (NASDAQ:CZR) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $52.43.

A number of research analysts have weighed in on CZR shares. Morgan Stanley boosted their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities reduced their price objective on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Wells Fargo & Company lowered their target price on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th.

Caesars Entertainment Stock Performance

CZR stock opened at $31.98 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market cap of $6.80 billion, a PE ratio of -19.15 and a beta of 2.89. The business has a 50 day moving average of $36.51 and a 200-day moving average of $38.22. Caesars Entertainment has a 12-month low of $31.66 and a 12-month high of $47.99.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The business 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 company’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 business earned $0.34 earnings per share. As a group, sell-side analysts expect that Caesars Entertainment will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in shares of Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after acquiring an additional 1,983,151 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after purchasing an additional 60,184 shares in the last quarter. Helikon Investments Ltd lifted its position in Caesars Entertainment by 67.1% during the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock valued at $66,264,000 after purchasing an additional 637,303 shares during the last quarter. Bamco Inc. NY purchased a new position in Caesars Entertainment in the 3rd quarter worth approximately $61,890,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Caesars Entertainment by 4.2% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.