Caesars Entertainment (NASDAQ:CZR) Now Covered by B. Riley

Investment analysts at B. Riley began coverage on shares of Caesars Entertainment (NASDAQ:CZR) in a research note issued on Thursday, StockNewsAPI reports. The firm set a “buy” rating and a $70.00 price target on the stock. B. Riley’s target price indicates a potential upside of 93.26% from the company’s current price.

A number of other brokerages have also recently commented on CZR. 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 research report on Friday, April 12th. JMP Securities dropped their price target on Caesars Entertainment from $62.00 to $60.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Susquehanna dropped their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Morgan Stanley boosted their price target on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Truist Financial dropped their price target on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $55.08.

Caesars Entertainment Stock Down 0.4 %

CZR stock opened at $36.22 on Thursday. Caesars Entertainment has a fifty-two week low of $35.09 and a fifty-two week high of $60.27. The business’s 50 day moving average price is $40.36 and its two-hundred day moving average price is $42.96. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 10.26 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, analysts forecast that Caesars Entertainment will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael E. Pegram purchased 40,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the acquisition, the director now directly owns 181,697 shares of the company’s stock, valued at $6,611,953.83. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Michael E. Pegram acquired 40,000 shares of Caesars Entertainment stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $36.39 per share, for a total transaction of $1,455,600.00. Following the purchase, the director now directly owns 181,697 shares of the company’s stock, valued at approximately $6,611,953.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Pegram acquired 15,000 shares of Caesars Entertainment stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in Caesars Entertainment by 26.4% during the 3rd quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after purchasing an additional 9,270 shares during the period. Choreo LLC lifted its holdings in shares of Caesars Entertainment by 39.1% in the fourth quarter. Choreo LLC now owns 17,678 shares of the company’s stock worth $829,000 after buying an additional 4,970 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Caesars Entertainment by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock worth $95,144,000 after acquiring an additional 77,595 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Caesars Entertainment in the 3rd quarter valued at $2,259,000. Finally, Strs Ohio lifted its stake in Caesars Entertainment by 33.2% in the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after purchasing an additional 168,738 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.