Caesars Entertainment, Inc. (NASDAQ:CZR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) have been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $35.5556.

A number of brokerages recently weighed in on CZR. Deutsche Bank Aktiengesellschaft lowered their target price on Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Wall Street Zen downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. The Goldman Sachs Group lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $24.00 in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its holdings in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. State Street Corp raised its stake in Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after buying an additional 61,065 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Caesars Entertainment by 0.4% during the fourth quarter. DAVENPORT & Co LLC now owns 4,339,172 shares of the company’s stock worth $101,797,000 after buying an additional 18,414 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock valued at $76,589,000 after buying an additional 2,490,924 shares during the period. Finally, Norges Bank bought a new stake in Caesars Entertainment during the second quarter valued at $79,604,000. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $24.57 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The stock has a market cap of $5.01 billion, a PE ratio of -21.37, a P/E/G ratio of 5.04 and a beta of 2.03. Caesars Entertainment has a 12-month low of $18.25 and a 12-month high of $40.00. The business’s 50-day moving average price is $22.66 and its two-hundred day moving average price is $24.82.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Caesars Entertainment’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

About Caesars Entertainment

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.