Caesars Entertainment (NASDAQ:CZR) Shares Up 7.4% After Analyst Upgrade

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) rose 7.4% on Thursday after Susquehanna upgraded the stock from a neutral rating to a positive rating. Susquehanna now has a $31.00 price target on the stock, up from their previous price target of $25.00. Caesars Entertainment traded as high as $24.73 and last traded at $24.71. Approximately 2,849,192 shares were traded during trading, a decline of 12% from the average daily volume of 3,222,845 shares. The stock had previously closed at $23.00.

Other analysts also recently issued research reports about the stock. Macquarie reduced their price target on shares of Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. cut their target price on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Jefferies Financial Group lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $22.00 in a report on Tuesday, November 4th. Stifel Nicolaus dropped their price target on shares of Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company assumed coverage on Caesars Entertainment in a research note on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Investors Weigh In On Caesars Entertainment

Several large investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC raised its stake in Caesars Entertainment by 508.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock valued at $25,000 after purchasing an additional 722 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 110.6% during the third 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. Mather Group LLC. acquired a new stake in Caesars Entertainment during the third quarter worth approximately $28,000. Sunbelt Securities Inc. grew its stake in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the period. Finally, UMB Bank n.a. raised its holdings in Caesars Entertainment by 52.0% in the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 8.4%

The business has a 50 day simple moving average of $22.36 and a two-hundred day simple moving average of $24.94. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23. The company has a market cap of $5.09 billion, a PE ratio of -21.70, a price-to-earnings-growth ratio of 4.68 and a beta of 2.03.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned ($0.04) EPS. The company’s revenue was down .2% compared to the same quarter last year. On average, analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.