Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $30.00

Key Points

• Citigroup raised its price target on Caesars to $30.00 (from $23.00) with a "neutral" rating, implying about a 9.15% upside from the prior close.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average price target of $32.80, based on 9 Buys, 7 Holds and 1 Sell.
• Operational/financials are weak: Caesars missed EPS expectations (reported -$1.23 vs. -$0.18 consensus) despite revenue of $2.92B (up 4.2% YoY); the stock trades near $27.49 and the company carries a high leverage (debt-to-equity ~3.17).

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its target price upped by Citigroup from $23.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 9.15% from the stock's previous close.

A number of other brokerages have also commented on CZR. Jefferies Financial Group increased their price target 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. Truist Financial reduced their target price on shares of Caesars Entertainment from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Caesars Entertainment from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Citizens Jmp dropped their price objective on Caesars Entertainment from $37.00 to $34.00 and set a "market outperform" rating on the stock in a research note on Wednesday, February 18th. Finally, TD Cowen reissued a "buy" rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.80.

Caesars Entertainment Stock Up 0.7%

NASDAQ CZR traded up $0.20 on Thursday, hitting $27.49. 1,103,107 shares of the company were exchanged, compared to its average volume of 5,861,216. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17. The company has a market cap of $5.59 billion, a PE ratio of -11.32 and a beta of 1.87. The stock has a fifty day moving average of $24.63 and a 200-day moving average of $23.43. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $31.58.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. increased its position in Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company's stock valued at $26,000 after acquiring an additional 510 shares during 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 valued at $26,000 after purchasing an additional 918 shares during the last quarter. Mather Group LLC. bought a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. lifted 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 worth $28,000 after purchasing an additional 672 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock worth $37,000 after buying an additional 488 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

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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