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

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

Several other brokerages have also issued reports on CZR. JPMorgan Chase & Co. decreased their price target on shares of Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Stifel Nicolaus decreased 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. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Caesars Entertainment from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.82.

Caesars Entertainment Trading Down 0.4%

NASDAQ:CZR opened at $19.93 on Tuesday. The company has a 50-day moving average price of $24.24 and a 200-day moving average price of $26.51. Caesars Entertainment has a 12 month low of $18.25 and a 12 month high of $41.76. 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 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 (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Caesars Entertainment by 103.5% in the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company’s stock worth $4,719,000 after buying an additional 84,545 shares during the last quarter. Penn Capital Management Company LLC boosted its holdings in shares of Caesars Entertainment by 101.9% in the first quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company’s stock worth $1,154,000 after buying an additional 22,812 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Caesars Entertainment by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company’s stock worth $261,000 after buying an additional 1,360 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Caesars Entertainment during the first quarter valued at approximately $540,000. Finally, HG Vora Capital Management LLC boosted its position in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock worth $97,500,000 after purchasing an additional 1,650,000 shares during the period. 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.