Caesars Entertainment (NASDAQ:CZR) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Caesars Entertainment (NASDAQ:CZR - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $36.00 price target on the stock. The Goldman Sachs Group's price target points to a potential upside of 20.12% from the stock's current price.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. initiated coverage on Caesars Entertainment in a report on Monday, June 23rd. They set an "overweight" rating and a $47.00 price target for the company. Capital One Financial upgraded Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. Morgan Stanley reduced their target price on Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Susquehanna boosted their target price on Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their target price on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR traded up $0.55 during mid-day trading on Monday, reaching $29.97. 3,569,630 shares of the company traded hands, compared to its average volume of 4,971,648. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a fifty day simple moving average of $28.05 and a 200-day simple moving average of $29.99. Caesars Entertainment has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The firm has a market cap of $6.23 billion, a PE ratio of -27.50, a price-to-earnings-growth ratio of 18.37 and a beta of 2.29.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.82 billion. Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.73) EPS. Equities research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in shares of Caesars Entertainment by 149.9% during the second quarter. Parallel Advisors LLC now owns 1,959 shares of the company's stock valued at $56,000 after acquiring an additional 1,175 shares during the period. Rhumbline Advisers lifted its stake in Caesars Entertainment by 38.8% in the first quarter. Rhumbline Advisers now owns 424,448 shares of the company's stock valued at $10,611,000 after buying an additional 118,581 shares during the period. Strs Ohio acquired a new position in Caesars Entertainment in the first quarter valued at about $14,535,000. Focus Partners Wealth lifted its stake in Caesars Entertainment by 60.4% in the first quarter. Focus Partners Wealth now owns 40,511 shares of the company's stock valued at $1,013,000 after buying an additional 15,248 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company's stock valued at $12,665,000 after buying an additional 3,198 shares during the period. Institutional investors and hedge funds own 91.79% of the company's stock.

About Caesars Entertainment

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.