Caesars Entertainment (NASDAQ:CZR) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Caesars Entertainment has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, signaling a potential stabilization in investor sentiment.
• The stock is currently rated as a "Moderate Buy"** by analysts, with a consensus price target of approximately $42.47.
• Despite a recent decline of 0.8%, Caesars Entertainment reported a quarterly revenue of $2.91 billion and a year-over-year revenue increase of 2.7%, though it missed earnings expectations significantly.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently commented on CZR. JPMorgan Chase & Co. raised their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. Barclays reduced their price target on Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on Caesars Entertainment from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $42.47.

Caesars Entertainment Stock Performance

CZR traded up $1.75 during trading hours on Monday, hitting $26.75. The stock had a trading volume of 8,319,456 shares, compared to its average volume of 6,849,327. Caesars Entertainment has a 1 year low of $21.40 and a 1 year high of $45.93. The company's fifty day simple moving average is $27.84 and its 200 day simple moving average is $28.58. The stock has a market cap of $5.56 billion, a PE ratio of -29.08 and a beta of 2.40. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 6.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. Caesars Entertainment's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned ($0.56) earnings per share. Equities analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. DAVENPORT & Co LLC raised its position in shares of Caesars Entertainment by 1,051.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after buying an additional 3,192,224 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Caesars Entertainment by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after acquiring an additional 1,360 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Caesars Entertainment during the first quarter valued at about $30,148,000. GSA Capital Partners LLP purchased a new stake in Caesars Entertainment during the first quarter valued at about $540,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Caesars Entertainment by 19.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,234 shares of the company's stock worth $725,000 after purchasing an additional 4,684 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company's stock.

Caesars Entertainment Company Profile

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.