Wall Street Zen Upgrades Caesars Entertainment (NASDAQ:CZR) to “Hold”

Caesars Entertainment (NASDAQ:CZR) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Truist Financial dropped their target price on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Citigroup reaffirmed a “market outperform” rating on shares of Caesars Entertainment in a research report on Tuesday, March 10th. The Goldman Sachs Group cut shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Monday, December 15th. JPMorgan Chase & Co. reduced their price objective on shares of Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Morgan Stanley lifted their target price on shares of Caesars Entertainment from $25.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, March 12th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.73.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $26.53 on Friday. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of -10.92 and a beta of 1.87. The stock has a fifty day moving average of $23.76 and a 200 day moving average of $23.41. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, research analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Caesars Entertainment by 47.7% in the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after purchasing an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Caesars Entertainment by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after buying an additional 1,623 shares during the period. Goldman Sachs Group Inc. increased its holdings in Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock valued at $39,982,000 after buying an additional 826,356 shares during the last quarter. Woodline Partners LP raised its position in Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after acquiring an additional 5,192 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after acquiring an additional 3,198 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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.