Caesars Entertainment (NASDAQ:CZR) Earns Strong-Buy Rating from Analysts at Raymond James

Raymond James began coverage on shares of Caesars Entertainment (NASDAQ:CZR) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a strong-buy rating and a $55.00 price objective on the stock.

CZR has been the topic of several other research reports. B. Riley initiated coverage on Caesars Entertainment in a research note on Thursday, May 9th. They set a buy rating and a $70.00 price target on the stock. Susquehanna cut their price target on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Truist Financial cut their price target on Caesars Entertainment from $58.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price target on Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Finally, JMP Securities cut their price target on Caesars Entertainment from $62.00 to $60.00 and set a market outperform rating on the stock in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of Moderate Buy and a consensus target price of $55.07.

Caesars Entertainment Stock Performance

CZR stock opened at $32.53 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65. The business’s fifty day simple moving average is $38.98 and its two-hundred day simple moving average is $42.57. Caesars Entertainment has a twelve month low of $32.51 and a twelve month high of $60.27. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 9.22 and a beta of 2.83.

Caesars Entertainment (NASDAQ:CZR) last released its 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 return on equity of 1.27% and a net margin of 6.68%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Analysts predict that Caesars Entertainment will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Second Line Capital LLC lifted its holdings in shares of Caesars Entertainment by 18.0% during the first quarter. Second Line Capital LLC now owns 75,881 shares of the company’s stock worth $3,319,000 after purchasing an additional 11,597 shares during the period. Sona Asset Management US LLC purchased a new stake in Caesars Entertainment in the 1st quarter worth approximately $5,249,000. EdgePoint Investment Group Inc. boosted its position in Caesars Entertainment by 35.4% in the 1st 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 in the last quarter. Nut Tree Capital Management LP boosted its position in Caesars Entertainment by 340.0% in the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. Finally, Comerica Bank boosted its position in Caesars Entertainment by 345.0% in the 1st quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after purchasing an additional 83,231 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

About Caesars Entertainment

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.