Caesars Entertainment (NASDAQ:CZR) Receives “Equal Weight” Rating from Barclays

Barclays restated their equal weight rating on shares of Caesars Entertainment (NASDAQ:CZR) in a report published on Thursday, Marketbeat Ratings reports. They currently have a $31.00 target price on the stock, down from their previous target price of $35.00.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Monday, June 15th. Wells Fargo & Company increased their target price on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 2nd. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $31.00 in a research report on Friday, May 29th. Citigroup lifted their price target on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.27.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $29.77 on Thursday. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a 50-day moving average of $28.89 and a two-hundred day moving average of $26.04. The stock has a market cap of $6.06 billion, a P/E ratio of -12.56 and a beta of 1.76. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the firm posted ($0.54) earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Caesars Entertainment will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the sale, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Pegram sold 16,897 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. grew its holdings in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after buying an additional 918 shares during the last quarter. CoreCap Advisors LLC increased its position in Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the period. Stance Capital LLC acquired a new stake in Caesars Entertainment in the third quarter worth $43,000. Finally, Hantz Financial Services Inc. grew its position in shares of Caesars Entertainment by 87.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after acquiring an additional 846 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment News Summary

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Barclays reaffirmed its “equal weight” rating on Caesars Entertainment and set a $31 price target, which is above the recent trading level and suggests modest upside. Benzinga
• Positive Sentiment: Caesars Republic Lake Tahoe Hotel & Casino officially opened, adding a fresh operating milestone that could support sentiment around the company’s casino portfolio. Gaming Intelligence
• Neutral Sentiment: Caesars said board member Courtney Mather resigned, which appears to be a routine governance change rather than a major business event. Yogonet
• Neutral Sentiment: Analyst coverage from 24/7 Wall St. highlighted Caesars among several names in Thursday’s research roundup, but did not introduce a major new thesis on its own. 24/7 Wall St.
• Negative Sentiment: Reports that Carl Icahn’s competing bid is unlikely to top the Fertitta deal have cooled takeover speculation, which may be weighing on the stock. MSN

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.