Caesars Entertainment (NASDAQ:CZR) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a sell rating to a hold rating in a research report sent to investors on Thursday.

A number of other analysts have also recently commented on the company. Morgan Stanley lifted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research note on Monday, October 14th. Finally, Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Price Performance

Caesars Entertainment stock traded up $0.46 during trading hours on Thursday, hitting $40.51. The stock had a trading volume of 207,197 shares, compared to its average volume of 4,161,512. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $50.51. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of -23.98 and a beta of 2.97. The stock’s fifty day moving average is $41.00 and its two-hundred day moving average is $38.17. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.68.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. As a group, analysts predict that Caesars Entertainment will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors grew its holdings in Caesars Entertainment by 26.9% during the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares in the last quarter. Nut Tree Capital Management LP grew its stake in Caesars Entertainment by 340.0% in the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in Caesars Entertainment by 35.4% in the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after buying an additional 1,515,763 shares during the last quarter. SG Americas Securities LLC raised its stake in Caesars Entertainment by 6,568.4% during the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock valued at $60,102,000 after buying an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd bought a new position in Caesars Entertainment during the 2nd quarter worth approximately $37,763,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.