Caesars Entertainment (NASDAQ:CZR) Upgraded to Positive at Susquehanna

Caesars Entertainment (NASDAQ:CZR) was upgraded by equities research analysts at Susquehanna from a “neutral” rating to a “positive” rating in a report released on Thursday, MarketBeat reports. The firm currently has a $31.00 target price on the stock, up from their previous target price of $25.00. Susquehanna’s price target would suggest a potential upside of 34.78% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of Caesars Entertainment in a research note on Monday, December 1st. Wells Fargo & Company began coverage on shares of Caesars Entertainment in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 price target for the company. JMP Securities cut their price objective on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 17th. Finally, Jefferies Financial Group cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $22.00 in a report on Tuesday, November 4th. One 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 currently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Caesars Entertainment Stock Down 3.2%

Caesars Entertainment stock opened at $23.00 on Thursday. The company has a 50 day moving average of $22.36 and a 200-day moving average of $24.94. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a twelve month low of $18.25 and a twelve month high of $40.00. The stock has a market capitalization of $4.69 billion, a PE ratio of -20.00, a price-to-earnings-growth ratio of 4.68 and a beta of 2.03.

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). The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, equities research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors raised its stake in Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. State Street Corp increased its holdings in shares of Caesars Entertainment by 0.8% during the second quarter. State Street Corp now owns 7,569,822 shares of the company’s stock worth $214,907,000 after purchasing an additional 61,065 shares during the period. DAVENPORT & Co LLC raised its position in shares of Caesars Entertainment by 3.0% in the third quarter. DAVENPORT & Co LLC now owns 4,320,758 shares of the company’s stock valued at $116,768,000 after buying an additional 123,865 shares in the last quarter. Norges Bank bought a new stake in shares of Caesars Entertainment in the second quarter valued at approximately $79,604,000. Finally, Nomura Holdings Inc. grew its position in Caesars Entertainment by 33.8% during the third quarter. Nomura Holdings Inc. now owns 2,392,084 shares of the company’s stock worth $64,646,000 after buying an additional 604,579 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

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.