Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $45.00

Key Points

• Stifel Nicolaus has raised the price target for Caesars Entertainment from $42.00 to $45.00, indicating a potential upside of 58.06% from the current stock price, while maintaining a "buy" rating.
• The company reported (0.39) earnings per share for the last quarter, falling short of estimates, but achieved a revenue of $2.91 billion, surpassing expectations.
• According to MarketBeat, there is currently an average rating of "Moderate Buy" for Caesars Entertainment, with four analysts giving a hold rating and twelve others recommending buy ratings.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its target price upped by Stifel Nicolaus from $42.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on CZR. Barclays increased their target price on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Caesars Entertainment in a research note on Monday, July 7th. They set a "buy" rating and a $36.00 target price on the stock. Truist Financial lowered their target price on Caesars Entertainment from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.53.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded down $1.00 on Wednesday, hitting $25.68. The company's stock had a trading volume of 7,822,694 shares, compared to its average volume of 5,872,958. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a fifty day moving average of $28.37 and a two-hundred day moving average of $29.53. The firm has a market capitalization of $5.34 billion, a P/E ratio of -27.91 and a beta of 2.40. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93.

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

Institutional Investors Weigh In On Caesars Entertainment

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

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.