Caesars Entertainment, Inc. (NASDAQ:CZR) Receives $42.47 Consensus Price Target from Analysts

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 earned an average recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $42.4667.

A number of research firms have recently issued reports on CZR. JMP Securities dropped their price objective on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 30th. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Susquehanna dropped their target price on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Caesars Entertainment in a research note on Monday, July 7th. They set a "buy" rating and a $36.00 price target for the company.

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. Vontobel Holding Ltd. lifted its stake in shares of Caesars Entertainment by 2.3% during the second quarter. Vontobel Holding Ltd. now owns 15,795 shares of the company's stock valued at $448,000 after acquiring an additional 356 shares during the period. UMB Bank n.a. raised its holdings in shares of Caesars Entertainment by 52.0% in the second quarter. UMB Bank n.a. now owns 1,049 shares of the company's stock valued at $30,000 after purchasing an additional 359 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Caesars Entertainment by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company's stock valued at $26,000 after buying an additional 405 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Caesars Entertainment by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company's stock valued at $728,000 after buying an additional 476 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company's stock valued at $46,000 after purchasing an additional 477 shares during the period. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Price Performance

Shares of CZR traded down $0.81 during mid-day trading on Wednesday, reaching $25.09. 4,956,289 shares of the company's stock were exchanged, compared to its average volume of 5,598,834. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -27.27 and a beta of 2.24. The company has a 50-day simple moving average of $27.22 and a two-hundred day simple moving average of $27.53. Caesars Entertainment has a 52-week low of $21.40 and a 52-week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released 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 company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. Caesars Entertainment's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

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.