Caesars Entertainment (NASDAQ:CZR) Trading 5.2% Higher

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price traded up 5.2% on Wednesday . The stock traded as high as $43.11 and last traded at $42.94. 743,734 shares were traded during trading, a decline of 82% from the average session volume of 4,201,014 shares. The stock had previously closed at $40.80.

Analyst Ratings Changes

A number of research firms recently commented on CZR. Morgan Stanley dropped their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their target price on Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JMP Securities increased their price target on Caesars Entertainment from $58.00 to $59.00 and gave the company a “market outperform” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.14.

Caesars Entertainment Stock Up 6.9 %

The business has a fifty day moving average price of $37.40 and a two-hundred day moving average price of $37.84. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 12.31 and a beta of 2.96.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds have recently added to or reduced their stakes in CZR. Vanguard Group Inc. increased its position in Caesars Entertainment by 0.3% during the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after buying an additional 75,898 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Caesars Entertainment by 270.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after acquiring an additional 20,692 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Caesars Entertainment by 881.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 25,506 shares of the company’s stock valued at $1,196,000 after acquiring an additional 22,906 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Caesars Entertainment by 201.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock worth $2,650,000 after purchasing an additional 40,517 shares during the last quarter. Finally, Morningstar Investment Services LLC bought a new stake in Caesars Entertainment during the fourth quarter worth approximately $278,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.