Caesars Entertainment (NASDAQ:CZR) Shares Gap Up After Analyst Upgrade

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price gapped up before the market opened on Wednesday after Susquehanna raised their price target on the stock from $23.00 to $28.00. The stock had previously closed at $27.99, but opened at $28.72. Susquehanna currently has a neutral rating on the stock. Caesars Entertainment shares last traded at $26.90, with a volume of 2,252,262 shares traded.

Other equities analysts also recently issued reports about the company. Raymond James lowered their price objective on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 19th. TD Cowen lowered their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price objective on Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday. Macquarie lowered their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.64.

Institutional Investors Weigh In On Caesars Entertainment

Several large investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Caesars Entertainment by 36.8% in the first quarter. CWM LLC now owns 5,259 shares of the company’s stock valued at $131,000 after acquiring an additional 1,414 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Caesars Entertainment by 13.4% in the first quarter. New York State Common Retirement Fund now owns 126,950 shares of the company’s stock valued at $3,174,000 after acquiring an additional 15,000 shares during the period. Allworth Financial LP boosted its holdings in shares of Caesars Entertainment by 97.8% in the first quarter. Allworth Financial LP now owns 1,339 shares of the company’s stock valued at $36,000 after acquiring an additional 662 shares during the period. Axxcess Wealth Management LLC boosted its holdings in shares of Caesars Entertainment by 40.5% in the first quarter. Axxcess Wealth Management LLC now owns 20,745 shares of the company’s stock valued at $519,000 after acquiring an additional 5,981 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in shares of Caesars Entertainment by 41.6% in the first quarter. ARGA Investment Management LP now owns 56,563 shares of the company’s stock valued at $1,414,000 after acquiring an additional 16,617 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Price Performance

The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -16.29 and a beta of 2.67. The company has a fifty day moving average price of $27.39 and a two-hundred day moving average price of $33.82. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the firm posted ($0.73) earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

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.