Caesars Entertainment (NASDAQ:CZR) Rating Increased to Hold at Zacks Research

Caesars Entertainment (NASDAQ:CZR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on CZR. JMP Securities dropped their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 17th. Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. Barclays decreased their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $37.82.

Caesars Entertainment Stock Down 0.4%

CZR opened at $19.93 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -17.33 and a beta of 2.32. Caesars Entertainment has a twelve month low of $18.25 and a twelve month high of $41.76. The company’s 50-day moving average price is $24.24 and its two-hundred day moving average price is $26.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, equities analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its position in Caesars Entertainment by 6.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,243 shares of the company’s stock valued at $736,000 after buying an additional 1,591 shares during the period. Hantz Financial Services Inc. boosted its position in Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares during the period. American Assets Capital Advisers LLC boosted its position in Caesars Entertainment by 102.3% during the 3rd quarter. American Assets Capital Advisers LLC now owns 170,109 shares of the company’s stock valued at $4,597,000 after buying an additional 86,009 shares during the period. Villere ST Denis J & Co. LLC boosted its position in Caesars Entertainment by 31.6% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,038,870 shares of the company’s stock valued at $28,075,000 after buying an additional 249,603 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Caesars Entertainment by 30.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,166 shares of the company’s stock valued at $221,000 after buying an additional 1,920 shares during the period. 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.