Brokerages Set Caesars Entertainment, Inc. (NASDAQ:CZR) Price Target at $57.36

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $57.36.

A number of analysts recently commented on CZR shares. Deutsche Bank Aktiengesellschaft dropped their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Wells Fargo & Company lowered their target price on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus lowered their target price on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Truist Financial decreased their price objective on Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Finally, Morgan Stanley boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $35.82 on Friday. The business’s fifty day simple moving average is $41.16 and its 200 day simple moving average is $43.29. The firm has a market capitalization of $7.75 billion, a P/E ratio of 9.87 and a beta of 2.81. Caesars Entertainment has a 12 month low of $35.76 and a 12 month high of $60.27. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. As a group, analysts anticipate that Caesars Entertainment will post 1.02 EPS for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram bought 15,000 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $102,213,000. AQR Capital Management LLC lifted its stake in shares of Caesars Entertainment by 938.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after acquiring an additional 942,621 shares during the last quarter. Capital World Investors lifted its stake in shares of Caesars Entertainment by 9.1% in the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Caesars Entertainment by 481.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after acquiring an additional 751,938 shares during the last quarter. Finally, Blackstone Inc. bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at about $34,762,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

About Caesars Entertainment

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.