In a report issued on September 18, Carlo Santarelli from Deutsche Bank maintained a Buy rating on Caesars (NASDAQ: CZR), with a price target of $14. The company’s shares opened today at $11.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 12.1% and a 66.3% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Marriott International, and Pinnacle Entertainment.
Currently, the analyst consensus on Caesars is a Strong Buy with an average price target of $13.20, which is a 20.0% upside from current levels. In a report issued on September 4, Oppenheimer also reiterated a Buy rating on the stock with a $15 price target.
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Based on Caesars’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.12 billion and net profit of $29 million. In comparison, last year the company earned revenue of $1 billion and had a GAAP net loss of $1.44 billion.
Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CZR in relation to earlier this year.
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Caesars Entertainment Corp. is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.
