Capital One Financial Upgrades Caesars Entertainment (NASDAQ:CZR) to “Overweight”

Caesars Entertainment (NASDAQ:CZR) was upgraded by equities researchers at Capital One Financial from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $47.00 price objective on the stock, down from their previous price objective of $51.00. Capital One Financial‘s price target indicates a potential upside of 102.76% from the stock’s previous close.

Several other analysts also recently commented on CZR. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price target for the company in a research report on Thursday, March 6th. Truist Financial reduced their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. TD Cowen lowered their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, Stifel Nicolaus decreased their price objective on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.80.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $23.18 on Thursday. The stock’s 50-day moving average is $31.83 and its two-hundred day moving average is $36.15. 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 1 year low of $21.40 and a 1 year high of $45.93. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of -13.88 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

Several institutional investors have recently made changes to their positions in the stock. Villere ST Denis J & Co. LLC lifted its stake in shares of Caesars Entertainment by 6.2% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock valued at $26,877,000 after purchasing an additional 47,294 shares during the period. Guyasuta Investment Advisors Inc. purchased a new position in Caesars Entertainment in the fourth quarter valued at about $385,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caesars Entertainment by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock valued at $62,728,000 after acquiring an additional 11,671 shares during the period. Wellington Management Group LLP lifted its position in shares of Caesars Entertainment by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock valued at $4,734,000 after acquiring an additional 4,840 shares during the period. Finally, Key Colony Management LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $6,350,000. 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.