Caesars Entertainment, Inc. (NASDAQ:CZR) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Caesars Entertainment, with 16 hold, two buy and one sell rating among 19 firms. The average 12-month price target is $30.71, slightly above the reported share price of $29.75.
• Caesars reported a quarterly loss of $0.30 per share, missing the $0.05 consensus estimate, although revenue of $2.99 billion slightly exceeded expectations and rose 3% year over year.
• Insiders sold 293,463 shares worth about $8.6 million over the past 90 days, while institutional investors and hedge funds continue to own a substantial 91.79% of the company.

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) have been assigned an average recommendation of "Hold" from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $30.7143.

Several brokerages recently commented on CZR. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Stifel Nicolaus lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a report on Monday, June 15th. Citigroup increased their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Susquehanna raised shares of Caesars Entertainment from a "positive" rating to a "positive" rating in a report on Friday, May 29th. Finally, Jefferies Financial Group lifted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Monday, April 6th.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $29.75 on Friday. The stock has a 50 day moving average of $29.63 and a two-hundred day moving average of $26.68. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $30.88. The company has a market capitalization of $6.06 billion, a P/E ratio of -13.05 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.39) EPS. As a group, equities analysts expect that Caesars Entertainment will post -0.62 EPS for the current year.

Insider Transactions at Caesars Entertainment

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. boosted its stake in shares of Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after purchasing an additional 918 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock worth $37,000 after purchasing an additional 488 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Caesars Entertainment by 87.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after purchasing an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock valued at $50,000 after buying an additional 702 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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