Monthly Stock Report: Caesars Entertainment, Inc. (CZR)
Publication Date: September 22, 2024
Company Overview
Caesars Entertainment, Inc. (CZR) is a prominent gaming and hospitality powerhouse headquartered in Reno, Nevada, with operations spanning across 18 states in the U.S. Established in 1937, the company offers a wide range of services that includes slot machines, table games, online sports wagering, dining venues, hotels, and entertainment spaces. As a key player in the Consumer Cyclical sector, particularly in the Resorts & Casinos industry, Caesars is strategically positioned within the burgeoning market of iGaming and sports betting. The favorable outlook for the Resorts & Casinos sector underscores an optimistic investment recommendation for CZR shares.
Market Performance & Investment Opportunity
Caesars has reported total revenues approximating $11.39 billion, evidencing strong financial health within the thriving Resorts & Casinos industry. Analysts project a target high price of $70.00 per share for CZR, based on robust consumer spending trends and positive performance metrics. The stock currently trades at $41.45, presenting a significant appreciation opportunity, as its potential target mean price stands at $52.13. Market sentiment indicates a moderate level of bearish outlook, with 8.47% of the float, or 16,208,182 shares, shorted. However, this could create a favorable environment for a potential short squeeze should positive developments arise.
Analyst Recommendations & Technical Indicators
The consensus among market analysts is clear, with a strong “buy” recommendation reflected in an average rating of 2.2 (on a scale of 1 to 5, where a lower number indicates a stronger buy signal) based on insights from 16 analysts. The stock’s current fifty-day moving average is at 37.052, demonstrating stable short-term performance. Although CZR reached a fifty-two week high of 50.506, it also encountered volatility, with a low of 31.74. Currently, at 41.45, CZR has considerable room for growth, offering potential investors an attractive entry point in a recovering economy aimed at enrichment through leisure and entertainment spending. This aligns with the broader trend expected as travel and leisure activities surge.
| Metric | Value |
|---|---|
| Market Cap | $9.0b |
| Total Debt | $26.0b |
| Total Cash | $830.0m |
| Shares Outstanding | 216.3m |
| Float Shares | 206.0m |
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