Caesars Entertainment, Inc. (NASDAQ:CZR) Stock Has Average Target Price of $30.71

Key Points

• Analysts rate Caesars Entertainment “Hold”: 16 of 19 analysts recommend holding the stock, with one sell and two buy ratings. The average 12-month price target is $30.71, slightly above its reported $29.30 price.
• Recent quarterly results were mixed: Caesars reported revenue of $2.99 billion, slightly exceeding estimates, but posted an adjusted loss of $0.30 per share versus expectations for $0.05 in earnings.
• Insiders have been selling shares, with insiders selling 322,682 shares worth about $9.6 million over the past 90 days. Institutional investors own a significant 91.79% of the company.

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) has been assigned a consensus rating of "Hold" from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $30.71.

CZR has been the topic of several recent research reports. Zacks Research upgraded Caesars Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, October 2nd. TD Cowen lowered Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 29th. Barclays reiterated an "equal weight" rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Thursday, July 9th. Capital One Financial cut Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Thursday, August 13th.

Insider Buying and Selling at Caesars Entertainment

In related news, CFO Bret Yunker sold 208,134 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total value of $6,164,929.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David P. Tomick sold 7,142 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $29.71, for a total transaction of $212,188.82. Following the completion of the transaction, the director owned 17,769 shares in the company, valued at $527,916.99. This represents a 28.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 322,682 shares of company stock worth $9,565,403 in the last 90 days. Corporate insiders own 1.18% of the company's stock.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently bought and sold shares of CZR. BlackRock Inc. bought a new position in Caesars Entertainment during the second quarter worth about $830,001,000. Pentwater Capital Management LP acquired a new position in Caesars Entertainment in the second quarter valued at about $346,014,000. Bank of America Corp DE bought a new stake in shares of Caesars Entertainment in the second quarter worth about $96,169,000. Bamco Inc. NY bought a new stake in shares of Caesars Entertainment in the second quarter worth about $49,624,000. Finally, Cyrus Capital Partners L.P. acquired a new stake in shares of Caesars Entertainment during the first quarter worth about $37,795,000. Institutional investors and hedge funds own 91.79% of the company's stock.

Caesars Entertainment Stock Down 0.6%

Shares of CZR opened at $29.30 on Thursday. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -12.85 and a beta of 1.85. 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 business's fifty day moving average price is $29.66 and its two-hundred day moving average price is $28.99. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $30.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted ($0.39) earnings per share. On average, analysts predict that Caesars Entertainment will post -0.90 earnings per share for the current year.

About Caesars Entertainment

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company headquartered in Reno, Nevada. The company operates casino resorts and hotels across the United States, offering gaming, accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other resort amenities. Its properties operate under brands including Caesars, Harrah's, Horseshoe, Paris, Flamingo, Planet Hollywood, The LINQ and Eldorado.

In addition to its physical properties, Caesars provides online sports betting and iGaming services through Caesars Sportsbook and related digital platforms, subject to state and regulatory approvals.

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