Caesars Entertainment (NASDAQ:CZR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other brokerages also recently weighed in on CZR. Susquehanna upgraded shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and increased their price target for the stock from $25.00 to $31.00 in a report on Thursday, January 8th. TD Cowen reiterated a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. The Goldman Sachs Group lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $24.00 in a report on Monday, December 15th. Barclays lowered their target price on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $31.73.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $26.53 on Friday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of -10.92 and a beta of 1.87. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The stock’s fifty day moving average price is $23.76 and its 200 day moving average price is $23.40. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last issued 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). The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, equities research analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in CZR. Invesco Ltd. raised its position in shares of Caesars Entertainment by 12.8% in the fourth quarter. Invesco Ltd. now owns 995,208 shares of the company’s stock valued at $23,278,000 after buying an additional 112,691 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $1,696,000. Mercer Global Advisors Inc. ADV acquired a new stake in Caesars Entertainment in the 4th quarter valued at about $484,000. State of Tennessee Department of Treasury lifted its stake in Caesars Entertainment by 125.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 54,824 shares of the company’s stock worth $1,282,000 after purchasing an additional 30,536 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Caesars Entertainment by 202.5% in the 4th quarter. XTX Topco Ltd now owns 64,427 shares of the company’s stock worth $1,507,000 after purchasing an additional 43,126 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.