Caesars Entertainment, Inc. (NASDAQ:CZR) Stock Rated "Reduce" by Sell-Side Analysts

Key Points

• Analysts rate Caesars Entertainment “Reduce” overall: Of 18 analysts, 15 recommend hold, two sell and one buy; the average 12-month price target is $30.54.
• Quarterly results missed expectations: Caesars reported a loss of $0.61 per share versus the $0.12 loss analysts expected, and revenue of $2.94 billion versus a $2.96 billion estimate. Revenue still increased 2.5% year over year.
• Company insiders sold a combined 322,682 shares worth about $9.6 million in the last quarter; institutional investors own 91.79% of the stock.

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) have earned a consensus recommendation of "Reduce" from the eighteen analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.54.

A number of analysts have recently commented on CZR shares. Susquehanna reiterated a "neutral" rating on shares of Caesars Entertainment in a research note on Monday, October 26th. Zacks Research downgraded Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research note on Monday, November 2nd. Capital One Financial downgraded shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. TD Cowen lowered shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Caesars Entertainment from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, October 28th.

Insider Activity

In other Caesars Entertainment news, Director David P. Tomick sold 7,142 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total value of $212,188.82. Following the completion of the sale, the director owned 17,769 shares in the company, valued at approximately $527,916.99. This represents a 28.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Josh Jones sold 59,507 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 322,682 shares of company stock worth $9,565,403 in the last quarter. Corporate insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CZR. BlackRock Inc. purchased a new position in Caesars Entertainment during the 2nd quarter valued at approximately $830,001,000. Pentwater Capital Management LP purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth approximately $346,014,000. Janus Henderson Group PLC raised its holdings in shares of Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock worth $172,582,000 after acquiring an additional 355,760 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Caesars Entertainment during the 2nd quarter worth approximately $96,169,000. Finally, First Trust Capital Management L.P. boosted its position in shares of Caesars Entertainment by 588.1% during the 3rd quarter. First Trust Capital Management L.P. now owns 2,754,430 shares of the company's stock valued at $81,669,000 after acquiring an additional 2,354,130 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $29.23 on Monday. The company has a market cap of $5.96 billion, a P/E ratio of -11.16 and a beta of 1.90. The company has a debt-to-equity ratio of 7.15, a current ratio of 0.82 and a quick ratio of 0.80. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $30.88. The stock's fifty day moving average price is $29.42 and its 200-day moving average price is $27.74.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.49). Caesars Entertainment had a negative return on equity of 9.83% and a negative net margin of 4.55%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the business posted ($0.27) earnings per share. Caesars Entertainment's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Caesars Entertainment will post -1.28 earnings per share for the current year.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc is a gaming and hospitality company that operates casinos, hotels and resorts across the United States. Its properties offer casino gaming, hotel accommodations, restaurants, live entertainment and other leisure amenities.

The company also provides online sports betting and iGaming through brands including Caesars Sportsbook and Caesars Palace Online Casino, subject to the regulations in the markets where they operate.

The present-day company was formed in 2020, when Eldorado Resorts acquired Caesars Entertainment and adopted the Caesars name.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.