Brokerages Set Caesars Entertainment, Inc. (NASDAQ:CZR) PT at $55.07

Caesars Entertainment, Inc. (NASDAQ:CZR) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $55.07.

A number of equities research analysts have weighed in on CZR shares. JMP Securities cut their price target on shares of Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Barclays cut their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Wells Fargo & Company cut their price target on shares of Caesars Entertainment from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial cut their price target on shares of Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, B. Riley began coverage on shares of Caesars Entertainment in a research note on Thursday, May 9th. They set a “buy” rating and a $70.00 price objective for the company.

Caesars Entertainment Stock Performance

CZR stock opened at $39.16 on Monday. The company has a market capitalization of $8.48 billion, a P/E ratio of 11.09 and a beta of 2.89. The company has a 50-day simple moving average of $36.40 and a 200 day simple moving average of $41.21. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $60.27. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.27%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.82 billion. Sell-side analysts predict that Caesars Entertainment will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael E. Pegram purchased 10,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the completion of the acquisition, the director now directly owns 191,697 shares in the company, valued at approximately $6,126,636.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Michael E. Pegram acquired 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $36.39 per share, for a total transaction of $1,455,600.00. Following the completion of the purchase, the director now owns 181,697 shares in the company, valued at approximately $6,611,953.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Pegram acquired 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the purchase, the director now owns 191,697 shares of the company’s stock, valued at approximately $6,126,636.12. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after acquiring an additional 75,898 shares during the last quarter. Capital Research Global Investors lifted its position in Caesars Entertainment by 26.9% in the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares during the period. Capital World Investors lifted its position in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares during the period. Janus Henderson Group PLC lifted its position in Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after purchasing an additional 233,250 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 35.4% in the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after purchasing an additional 1,515,763 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.