Brokerages Set Caesars Entertainment, Inc. (NASDAQ:CZR) Price Target at $42.47

Key Points

• Caesars Entertainment, Inc. (NASDAQ:CZR) has an average rating of “Moderate Buy” from 17 analysts, with a price target set at $42.47.
• This quarter, Caesars reported ($0.39) earnings per share, significantly missing estimates, but revenue reached $2.91 billion, exceeding forecasts.
• Major institutional investors have recently increased their stakes, with 91.79% of the company's stock now held by hedge funds and institutional investors.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seventeen brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $42.4667.

A number of equities analysts have issued reports on CZR shares. Morgan Stanley cut their target price on Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. JMP Securities cut their target price on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Cfra reaffirmed a "hold" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. Finally, The Goldman Sachs Group assumed coverage on Caesars Entertainment in a research report on Monday, July 7th. They issued a "buy" rating and a $36.00 target price on the stock.

Caesars Entertainment Stock Down 3.1%

Caesars Entertainment stock traded down $0.81 during midday trading on Wednesday, hitting $25.09. 4,956,409 shares of the company were exchanged, compared to its average volume of 5,449,453. The company's fifty day moving average price is $27.12 and its 200-day moving average price is $27.37. The company has a market cap of $5.22 billion, a PE ratio of -27.27 and a beta of 2.24. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. Caesars Entertainment has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned ($0.56) earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its position in shares of Caesars Entertainment by 508.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company's stock valued at $25,000 after acquiring an additional 722 shares in the last quarter. Mather Group LLC. raised its position in shares of Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after acquiring an additional 405 shares in the last quarter. UMB Bank n.a. raised its position in shares of Caesars Entertainment by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company's stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Caesars Entertainment by 168.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company's stock valued at $32,000 after acquiring an additional 711 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Caesars Entertainment by 69.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company's stock valued at $33,000 after acquiring an additional 478 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.