Caesars Entertainment, Inc. (NASDAQ:CZR) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts broadly rate Caesars Entertainment “Hold”: Of 19 firms covering the stock, 15 recommend holding, while two rate it a sell and two rate it a buy. The average 12-month price target is $30.71, close to the stock’s $29.66 opening price.
• Recent earnings missed expectations: Caesars reported a quarterly loss of $0.30 per share versus the expected $0.05 profit, although revenue of $2.99 billion slightly exceeded estimates and rose 3% year over year.
• Insiders have been selling shares while institutions remain heavily invested: Company insiders sold 561,104 shares worth about $16.5 million over the past 90 days, while institutional investors own 91.79% of the stock.

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) have received an average recommendation of "Hold" from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.7143.

A number of research firms have recently issued reports on CZR. Truist Financial cut Caesars Entertainment from a "buy" rating to a "hold" rating and cut their price objective for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. TD Cowen lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Wednesday, July 29th. Texas Capital downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Monday, June 15th.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.66 on Wednesday. The firm's fifty day moving average price is $29.85 and its 200-day moving average price is $27.53. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a market cap of $6.04 billion, a P/E ratio of -13.01 and a beta of 1.77. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. On average, equities research analysts expect that Caesars Entertainment will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In other news, CFO Bret Yunker sold 208,134 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The SEC filing for this sale provides additional information. Insiders have sold 561,104 shares of company stock worth $16,542,718 in the last 90 days. 1.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of CZR. BlackRock Inc. bought a new stake in Caesars Entertainment in the second quarter valued at approximately $830,001,000. Pentwater Capital Management LP bought a new position in shares of Caesars Entertainment in the second quarter worth approximately $346,014,000. State Street Corp grew its holdings in shares of Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after purchasing an additional 61,065 shares during the last quarter. Morgan Stanley increased its stake in shares of Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock worth $167,049,000 after buying an additional 3,910,430 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Caesars Entertainment by 2,852.0% in the second quarter. California State Teachers Retirement System now owns 6,750,029 shares of the company's stock worth $223,659,000 after buying an additional 6,521,369 shares during the period. 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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