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

Caesars Entertainment (NASDAQ:CZR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities analysts have also commented on the company. Barclays dropped their price objective on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus raised their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday. Susquehanna reissued a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Performance

CZR stock traded down $1.52 during midday trading on Thursday, hitting $40.05. 7,136,697 shares of the company traded hands, compared to its average volume of 4,180,251. The business has a 50 day simple moving average of $41.00 and a 200-day simple moving average of $38.17. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of -23.98 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm 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 2.44% and a negative return on equity of 2.57%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, equities research analysts predict that Caesars Entertainment will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its stake in Caesars Entertainment by 26.9% during the first 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 increased its position in shares of Caesars Entertainment by 340.0% during 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. EdgePoint Investment Group Inc. lifted its holdings in Caesars Entertainment by 35.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock valued at $253,651,000 after purchasing an additional 1,515,763 shares during the last quarter. SG Americas Securities LLC boosted its position in Caesars Entertainment by 6,568.4% in 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 stake in Caesars Entertainment during the second quarter worth about $37,763,000. Institutional investors and hedge funds 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.