Caesars Entertainment (NASDAQ:CZR) Trading Up 7.4% on Analyst Upgrade

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) traded up 7.4% 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 were traded 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 brokerages also recently issued reports on CZR. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Wells Fargo & Company began coverage on Caesars Entertainment in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. Finally, Truist Financial dropped their price objective on 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 assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.56.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its position in Caesars Entertainment by 508.5% in the second quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after purchasing an additional 722 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares during the period. Mather Group LLC. purchased a new position in shares of Caesars Entertainment in the third quarter worth approximately $28,000. Sunbelt Securities Inc. grew its position in Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the period. Finally, UMB Bank n.a. increased its holdings in Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after buying an additional 359 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Stock Down 1.8%

The company’s 50-day simple moving average is $22.58 and its two-hundred day simple moving average is $24.91. The firm has a market capitalization of $5.03 billion, a P/E ratio of -21.42, a P/E/G ratio of 5.13 and a beta of 2.03. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current 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.