Key Points
- Caesars Entertainment director David Tomick sold 7,000 shares at an average price of $29.67, totaling $207,690. The sale reduced his direct ownership by 15.25% to 38,911 shares.
- Caesars reported quarterly revenue of $2.99 billion, slightly above estimates, but posted an EPS loss of $0.30 versus expectations for $0.05 in earnings. Analysts project a full-year loss of approximately $0.90 per share.
- Analyst sentiment is mostly neutral, with a consensus “Hold” rating and an average price target of $30.71. Institutional investors own 91.79% of the company, while the stock recently traded near its 52-week high.
Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) Director David Tomick sold 7,000 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $29.67, for a total value of $207,690.00. Following the completion of the transaction, the director directly owned 38,911 shares of the company's stock, valued at $1,154,489.37. The trade was a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Caesars Entertainment Price Performance
Shares of NASDAQ CZR opened at $29.68 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.83 and a current ratio of 0.85. Caesars Entertainment, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The stock has a market cap of $6.05 billion, a PE ratio of -13.02 and a beta of 1.75. The stock has a fifty day moving average of $29.80 and a 200-day moving average of $28.48.
Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.35). Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the company posted ($0.39) EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.9 earnings per share for the current year.
Hedge Funds Weigh In On Caesars Entertainment
Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new stake in shares of Caesars Entertainment during the 2nd quarter valued at about $25,000. Parkside Financial Bank & Trust increased its position in shares of Caesars Entertainment by 310.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company's stock worth $32,000 after purchasing an additional 811 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Caesars Entertainment in the second quarter worth approximately $53,000. Hantz Financial Services Inc. raised its stake in Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock valued at $42,000 after purchasing an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Caesars Entertainment by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock valued at $50,000 after purchasing an additional 702 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on CZR. Wells Fargo & Company increased their price target on shares of Caesars Entertainment from $26.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 2nd. Capital One Financial cut shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Raymond James Financial lowered shares of Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. TD Cowen cut shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus downgraded shares of Caesars Entertainment from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.71.
Check Out Our Latest Stock Report on Caesars Entertainment
Caesars Entertainment Company Profile
(
Get Free Report)
Caesars Entertainment, Inc is a casino-entertainment company that owns, operates and manages commercial casinos, resorts and gaming facilities primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, entertainment, nightlife, conventions and other leisure services, with a significant presence in Las Vegas and regional markets across the country.
The company operates a portfolio of well-known brands, including Caesars, Harrah's, Horseshoe, Paris, Planet Hollywood, Flamingo, The LINQ and Caesars Sportsbook.
Further Reading
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