Caesars Entertainment (NASDAQ:CZR) Trading 7.4% Higher Following Analyst Upgrade

Caesars Entertainment, Inc. (NASDAQ:CZR) shot up 7.4% during trading 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. 2,849,192 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 3,222,845 shares. The stock had previously closed at $23.00.

Several other equities analysts have also commented on CZR. Macquarie lowered their target price on Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Wall Street Zen downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Citizens Jmp cut their target price on Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 29th. Stifel Nicolaus lowered 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 report on Wednesday, October 29th. Finally, Truist Financial cut their price objective on shares of Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital World Investors raised its stake in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the period. Norges Bank purchased a new position in Caesars Entertainment during the second quarter valued at approximately $79,604,000. Ossiam increased its stake in shares of Caesars Entertainment by 7,760.9% in the third quarter. Ossiam now owns 1,883,007 shares of the company’s stock worth $50,888,000 after acquiring an additional 1,859,053 shares during the last quarter. Nomura Holdings Inc. increased its position in Caesars Entertainment by 654.5% in the 2nd quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock worth $50,747,000 after purchasing an additional 1,550,589 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Caesars Entertainment by 315.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,946,099 shares of the company’s stock valued at $52,593,000 after buying an additional 1,477,284 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Trading Up 8.4%

The company has a 50 day moving average of $22.36 and a 200 day moving average of $24.94. The firm has a market cap of $5.09 billion, a P/E ratio of -21.70, a PEG ratio of 4.68 and a beta of 2.03. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (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 business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm earned ($0.04) earnings per share. Caesars Entertainment’s revenue was down .2% compared to the same quarter last year. Analysts predict 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.