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

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.71.

A number of brokerages have recently issued reports on CZR. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Barclays reaffirmed an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. TD Cowen cut 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Finally, Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd.

Insider Transactions at Caesars Entertainment

In related news, Director Blackhurst Janis L. Jones sold 33,899 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $29.63, for a total transaction of $1,004,427.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Tomick sold 7,142 shares of the company’s stock in a transaction dated 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 directly owned 17,769 shares of the company’s stock, valued at $527,916.99. The trade was a 28.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 322,682 shares of company stock valued at $9,565,403. 1.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently added to or reduced their stakes in CZR. Allworth Financial LP acquired a new stake in shares of Caesars Entertainment during the second quarter valued at about $25,000. Versant Capital Management Inc lifted its holdings in Caesars Entertainment by 272.8% during the 3rd quarter. Versant Capital Management Inc now owns 932 shares of the company’s stock worth $28,000 after buying an additional 682 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Caesars Entertainment by 310.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock worth $32,000 after purchasing an additional 811 shares during the last quarter. Gilpin Wealth Management LLC boosted its holdings in shares of Caesars Entertainment by 3,497.0% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $35,000 after buying an additional 1,154 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Caesars Entertainment by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after acquiring an additional 702 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 0.7%

Shares of Caesars Entertainment stock opened at $28.90 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $30.88. The company’s fifty day moving average is $29.57 and its two-hundred day moving average is $29.09. The company has a market capitalization of $5.89 billion, a P/E ratio of -12.68 and a beta of 1.85.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly 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 company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%. Caesars Entertainment’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.39) EPS. Analysts forecast that Caesars Entertainment will post -0.92 earnings per share for the current year.

About Caesars Entertainment

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company that operates casino resorts and related businesses primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other leisure amenities.

The company operates well-known destinations in Las Vegas, including Caesars Palace, Paris Las Vegas, Planet Hollywood Resort & Casino, and The Cromwell, as well as regional casinos and resorts across several U.S.