Caesars Entertainment Inc [CZR] Stock trading around $41.96 per share: What’s Next?

Caesars Entertainment Inc [NASDAQ: CZR] traded at a high on Tuesday, posting a 2.77 gain after which it closed the day’ session at $41.96. The company report on February 20, 2024 at 4:15 PM that Caesars Entertainment Partners with Sault Ste. Marie Tribe of Chippewa Indians; Acquires Michigan iGaming Operations from Wynn Resorts.

Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) today announced an agreement to acquire the operations of WynnBET’s Michigan iGaming business and a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians, subject to regulatory approvals. As part of the transaction, Caesars gains access to the Sault Tribe’s iGaming skins, enabling Caesars to operate additional digital brands in Michigan, and existing WynnBET customers will be transitioned to Caesars’ Michigan iGaming platform, pending regulatory approvals. Wynn and Caesars will receive non-cash consideration, including extinguishment, reductions, and assignment of certain contractual obligations related to both parties’ businesses.

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“As we continue to grow our iGaming franchise, the assumption of WynnBET’s iGaming operations in Michigan allows us to tap into a significant market and customer base, providing a crucial step forward in growing our digital products and offering players more ways to play,” said Matt Sunderland, SVP & Chief iGaming Officer for Caesars Entertainment. “We are honored to work with the Sault Ste. Marie Tribe of Chippewa Indians and look forward to growing with them in Michigan.”.

The results of the trading session contributed to over 4753828 shares changing hands. Over the past one week, the price volatility of Caesars Entertainment Inc stands at 4.37% while the volatility over the past one month is 3.28%.

The market cap for CZR stock reached $9.08 billion, with 215.44 million shares outstanding and 206.09 million shares in the current float. Compared to the average trading volume of 3.53M shares, CZR reached a trading volume of 4753828 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Caesars Entertainment Inc [CZR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CZR shares is $58.87 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CZR stock is a recommendation set at 1.69. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for Caesars Entertainment Inc shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on January 09, 2024. While these analysts kept the previous recommendation, CapitalOne raised their target price to Equal Weight. The new note on the price target was released on October 12, 2023, representing the official price target for Caesars Entertainment Inc stock. Previously, the target price had yet another raise from $27 to $39, while Susquehanna kept a Neutral rating on CZR stock. On January 24, 2023, analysts increased their price target for CZR shares from 63 to 68.

The Average True Range (ATR) for Caesars Entertainment Inc is set at 1.61, with the Price to Sales ratio for CZR stock in the period of the last 12 months amounting to 0.79. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 5.21. Price to Free Cash Flow for CZR in the course of the last twelve months was 16.65 with Quick ratio for the last quarter at 0.74.

How has CZR stock performed recently?

Caesars Entertainment Inc [CZR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.74. With this latest performance, CZR shares dropped by -5.69% in over the last four-week period, additionally sinking by -19.07% over the last 6 months – not to mention a drop of -16.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CZR stock in for the last two-week period is set at 43.27, with the RSI for the last a single of trading hit 43.91, and the three-weeks RSI is set at 43.95 for Caesars Entertainment Inc [CZR]. The present Moving Average for the last 50 days of trading for this stock 44.89, while it was recorded at 41.63 for the last single week of trading, and 47.36 for the last 200 days.

Caesars Entertainment Inc [CZR]: Deeper insight into the fundamentals

Caesars Entertainment Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 0.76.

Earnings analysis for Caesars Entertainment Inc [CZR]

With the latest financial reports released by the company, Caesars Entertainment Inc posted -0.63/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6,200.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CZR.

Insider trade positions for Caesars Entertainment Inc [CZR]

The top three institutional holders of CZR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CZR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CZR stock with ownership which is approximately 5.8325%.