Caesars Entertainment (NASDAQ:CZR) Trading 5.3% Higher – Time to Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price traded up 5.3% during mid-day trading on Thursday . The company traded as high as $39.27 and last traded at $39.08. 1,194,792 shares changed hands during trading, a decline of 71% from the average session volume of 4,109,828 shares. The stock had previously closed at $37.11.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CZR shares. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their target price on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $53.71.

Caesars Entertainment Trading Down 2.1 %

The company has a market cap of $7.86 billion, a price-to-earnings ratio of -22.16 and a beta of 2.89. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The business’s 50 day moving average price is $40.58 and its 200-day moving average price is $38.59.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Caesars Entertainment by 525.3% in the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after acquiring an additional 499 shares during the last quarter. Huntington National Bank boosted its stake in shares of Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. bought a new stake in shares of Caesars Entertainment during the 3rd quarter valued at approximately $51,000. Quarry LP bought a new stake in shares of Caesars Entertainment during the 3rd quarter valued at approximately $68,000. Finally, GAMMA Investing LLC increased its position in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares in the last quarter. 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.