Caesars Entertainment (NASDAQ:CZR) Rating Increased to Overweight at Capital One Financial

Caesars Entertainment (NASDAQ:CZR) was upgraded by equities researchers at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday,Finviz reports. The brokerage presently has a $47.00 price objective on the stock, down from their prior price objective of $51.00. Capital One Financial‘s price objective would indicate a potential upside of 96.75% from the company’s current price.

Other equities analysts have also issued research reports about the stock. JMP Securities lowered their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. TD Cowen reduced their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Macquarie dropped their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group dropped their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR traded down $2.38 during midday trading on Thursday, hitting $23.89. 1,441,012 shares of the stock traded hands, compared to its average volume of 4,636,271. The firm has a market capitalization of $5.06 billion, a P/E ratio of -14.23 and a beta of 2.97. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a one year low of $23.52 and a one year high of $45.93. The firm has a 50-day moving average of $32.27 and a two-hundred day moving average of $36.35.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. On average, equities analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several large investors have recently added to or reduced their stakes in CZR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Caesars Entertainment by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after purchasing an additional 408 shares during the period. Arizona State Retirement System boosted its position in shares of Caesars Entertainment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock worth $2,098,000 after acquiring an additional 470 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock valued at $291,000 after purchasing an additional 500 shares in the last quarter. Contrarian Capital Management L.L.C. grew its position in shares of Caesars Entertainment by 0.4% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock valued at $3,944,000 after buying an additional 500 shares during the last quarter. Finally, Fifth Lane Capital LP boosted its position in shares of Caesars Entertainment by 6.3% in the 4th quarter. Fifth Lane Capital LP now owns 8,500 shares of the company’s stock valued at $284,000 after purchasing an additional 500 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.