Caesars Entertainment Corporation (NASDAQ:CZR) rose 9.01% in recent trade and currently has a stock-market value of $5.93B. The shares finished at $8.71, after trading as low as $8 earlier in the session. It hit an intraday high Friday at $8.93. Trading activity significantly improved as the volume at ready counter increased to 46,493,905 shares versus 23,219,240 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 25,265,137 shares. The stock is now 49.14% above against its bear-market low of $5.84 on December 24, 2018. It has retreated -66.48% since it’s 52-week high of $14.5 reached in February. Now the market price is down -33% on the year and up 28.28% YTD.
CZR’s 50 day simple moving average (SMA 50) price is $7.84 and its 200-day simple moving average (SMA 200) price is $10.12. The company’s stock currently has a total float of 634.85M shares. Its weekly volatility is hovering around 6% and felt 6.33% volatility in price over a month. On the upside, the share price will test short term resistance at around $9.09. On a downside, the stock is likely to find some support, which begins at $8.16. The failure to get near-term support could push it to $7.62.
Separately, it has been reported that multiple insider activity took place at Caesars Entertainment Corporation (CZR). Director Chugg Juliana L acquired 15,675 shares for $23,737 in transaction occurred on 2018/12/21. After making this transaction, the Director owns a direct stake of 100,007 shares, worth $206,749, as per the last closing price. On 2018/12/21 Kornstein Don R, Director at CZR, purchased 20,000 shares at an average price of $6.29 per share. The new stake is valued at $901,938.
Director, Kornstein Don R had invested in 25,000 shares for $83,552 through a trade on 2018/12/19. Following this activity, the insider holds 173,750 shares worth $727,738 as of recent close. Wall Street’s most bullish Caesars Entertainment Corporation (NASDAQ:CZR) analysts are predicting the share price to blow past $15 per share during the next 12 months. The current median share price forecast by them is $12, suggesting that the stock could increase 37.77% in that time frame. The average price target of $11.62 calls for a nearly 33.41% increase in the stock price.
It had seen a positive analyst call from UBS, which upgraded the stock from Sell to Neutral on January 02. Analysts at Bernstein, started covering the stock on November 15 with a Mkt Perform rating. Analysts at Morgan Stanley, made their first call about the stock on October 23, recommending it is Overweight.
When looking at valuations, Caesars Entertainment Corporation (CZR) has a cheap P/E of 6.33x as compared to industry average of 18.36x. Also, it is trading at rather expensive levels at just over 1.93x price/book and 0.73x price/sales. Compared to others, Caesars Entertainment Corporation is in a different league with regards to profitability, having net margins of 26.7%. To put some perspective around this, the industry’s average net margin is 18.63%. CZR’s ROE is 68.7%, which is also considerably better than the industry’s ROE of 30.49%. It’s also very liquid in the near term, with a current ratio of 1.2. The stock has a debt/capital of 6.15.
Shares of Caesars Entertainment Corporation (CZR) have dropped -1.6% since the company’s Mar-19 earnings report. Over the past 7 fiscal quarters, Caesars Entertainment Corporation (NASDAQ:CZR) has topped consensus earnings estimates in 2 quarters (16%), missed earnings in 4 quarters (33%), whereas at 1 occasion EPS met analyst expectations. CZR last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.14 per share, -100% change on the same period last year. That was better than consensus for 0. Revenue for the recent quarter stood at $2.19 billion, up 2% on last year and below the $2.21 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $2.03 billion to $2.16 billion, which should be compared with $2.12 billion generated last year. EPS is seen in a range of -$0.17 to $0.26, against the $0.16 reported a year ago.