StockNews.com Upgrades Caesars Entertainment (NASDAQ:CZR) to “Hold”

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

CZR has been the topic of several other reports. Barclays dropped their target price on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $59.00 price objective on shares of Caesars Entertainment in a report on Monday, October 14th. Jefferies Financial Group reduced their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR traded up $0.46 during trading on Thursday, reaching $40.51. 207,197 shares of the company’s stock traded hands, compared to its average volume of 4,161,512. The stock has a market capitalization of $8.61 billion, a P/E ratio of -23.98 and a beta of 2.97. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $50.51. The company has a 50 day moving average of $41.00 and a 200-day moving average of $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 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 company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. On average, equities analysts expect that Caesars Entertainment will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CZR. Vanguard Group Inc. grew its position in Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after buying an additional 75,898 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Caesars Entertainment by 26.9% in 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 during the last quarter. Janus Henderson Group PLC raised its position in shares of Caesars Entertainment by 2.5% during the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after purchasing an additional 233,250 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Caesars Entertainment by 1.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after purchasing an additional 60,184 shares during the period. Finally, Nut Tree Capital Management LP increased its stake in Caesars Entertainment by 340.0% in the 1st 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. Institutional investors own 91.79% of the company’s stock.

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.