Key Points
- Director Michael Pegram sold 55,000 Caesars Entertainment shares on June 2 at an average price of $29.20, for total proceeds of about $1.61 million.
- Caesars recently reported quarterly earnings of -$0.48 per share, missing analyst expectations, though revenue of $2.87 billion slightly topped estimates and rose 2.7% year over year.
- Analyst sentiment is mixed: the stock has a Hold consensus rating with an average target price of $32.80, while several firms recently adjusted ratings and price targets.
Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) Director Michael Pegram sold 55,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Caesars Entertainment Price Performance
Shares of NASDAQ:CZR opened at $29.18 on Thursday. The firm has a market capitalization of $5.94 billion, a PE ratio of -12.31 and a beta of 1.77. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The company has a 50-day moving average price of $27.45 and a two-hundred day moving average price of $24.75. Caesars Entertainment, Inc. has a twelve month low of $17.86 and a twelve month high of $31.58.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned ($0.54) EPS. Equities analysts forecast that Caesars Entertainment, Inc. will post -0.49 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CZR shares. Truist Financial lowered Caesars Entertainment from a "buy" rating to a "hold" rating and reduced their target price for the company from $32.00 to $31.00 in a report on Friday, May 29th. Jefferies Financial Group raised their price target on Caesars Entertainment from $24.00 to $26.00 and gave the company a "hold" rating in a report on Monday, April 6th. Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Citizens Jmp increased their target price on Caesars Entertainment from $34.00 to $35.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 29th. Finally, Macquarie Infrastructure downgraded Caesars Entertainment from an "outperform" rating to a "neutral" rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of "Hold" and an average target price of $32.80.
Get Our Latest Stock Analysis on CZR
Institutional Investors Weigh In On Caesars Entertainment
Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company's stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the period. State Street Corp lifted its stake in Caesars Entertainment by 0.8% in the second quarter. State Street Corp now owns 7,569,822 shares of the company's stock worth $214,907,000 after acquiring an additional 61,065 shares during the period. Morgan Stanley increased its position in Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company's stock valued at $167,049,000 after purchasing an additional 3,910,430 shares during the period. Janus Henderson Group PLC increased its position in shares of Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company's stock valued at $172,582,000 after buying an additional 355,760 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company's stock worth $115,500,000 after buying an additional 4,937,998 shares during the period. Hedge funds and other institutional investors own 91.79% of the company's stock.
About Caesars Entertainment
(
Get Free Report)
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.
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