Caesars Entertainment (NASDAQ:CZR) Trading Up 12.2% – Time to Buy?

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) shot up 12.2% on Wednesday . The company traded as high as $27.23 and last traded at $29.1770. 2,605,156 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 6,394,161 shares. The stock had previously closed at $26.01.

Wall Street Analyst Weigh In

CZR has been the subject of a number of analyst reports. The Goldman Sachs Group cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $24.00 in a research note on Monday, December 15th. JPMorgan Chase & Co. cut their price objective on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Citizens Jmp reduced their price objective on Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 18th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Finally, Truist Financial cut their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.24.

Caesars Entertainment Stock Up 11.6%

The stock has a market cap of $5.91 billion, a P/E ratio of -11.91, a PEG ratio of 61.75 and a beta of 1.94. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80. The firm’s 50-day moving average is $22.69 and its two-hundred day moving average is $23.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. ING Groep NV grew its stake in shares of Caesars Entertainment by 80.2% during the 3rd quarter. ING Groep NV now owns 599,854 shares of the company’s stock worth $16,211,000 after acquiring an additional 266,917 shares in the last quarter. Principal Financial Group Inc. grew its position in Caesars Entertainment by 56.4% in the third quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company’s stock valued at $45,953,000 after purchasing an additional 612,837 shares in the last quarter. LDR Capital Management LLC acquired a new stake in Caesars Entertainment in the 3rd quarter valued at $1,172,000. Villere ST Denis J & Co. LLC boosted its stake in shares of 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 worth $28,075,000 after buying an additional 249,603 shares during the last quarter. Finally, Blackhawk Capital Partners LLC bought a new position in shares of Caesars Entertainment in the 3rd quarter valued at about $1,412,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.