Caesars Entertainment (NASDAQ:CZR) Upgraded at StockNews.com

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 research analysts have also recently weighed in on CZR. JMP Securities reiterated a “market outperform” rating and issued a $59.00 target price on shares of Caesars Entertainment in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday. Jefferies Financial Group cut their price target on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.00.

Caesars Entertainment Price Performance

CZR opened at $39.22 on Thursday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.68. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of -23.48 and a beta of 2.96. The firm’s fifty day moving average price is $41.09 and its two-hundred day moving average price is $38.17. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Caesars Entertainment’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. As a group, analysts anticipate that Caesars Entertainment will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently added to or reduced their stakes in CZR. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in Caesars Entertainment by 270.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after purchasing an additional 20,692 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Caesars Entertainment by 201.8% during the first quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock worth $2,650,000 after purchasing an additional 40,517 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Caesars Entertainment by 249.0% in the 1st quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock worth $8,131,000 after purchasing an additional 132,720 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Caesars Entertainment by 263.2% during the 1st quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock valued at $15,111,000 after purchasing an additional 250,354 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

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.