Caesars Entertainment (NASDAQ:CZR) Shares Up 12.2% – Should You Buy?

Caesars Entertainment, Inc. (NASDAQ:CZR) shares were up 12.2% during mid-day trading on Wednesday . The stock traded as high as $27.23 and last traded at $29.1770. Approximately 2,605,156 shares changed hands during trading, a decline of 59% from the average daily volume of 6,394,161 shares. The stock had previously closed at $26.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Caesars Entertainment in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $21.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Morgan Stanley lowered their target price on shares of Caesars Entertainment from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, Susquehanna raised shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and upped their price target for the stock from $25.00 to $31.00 in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.24.

Caesars Entertainment Price Performance

The stock has a market capitalization of $5.91 billion, a P/E ratio of -11.91, a price-to-earnings-growth ratio of 61.75 and a beta of 1.94. The firm has a 50-day moving average price of $22.69 and a 200 day moving average price of $23.27. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm posted $0.05 earnings per share. Caesars Entertainment’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its position in shares of Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after acquiring an additional 510 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after purchasing an additional 918 shares during the last quarter. Mather Group LLC. bought a new position in shares of Caesars Entertainment during the third quarter valued at $28,000. Sunbelt Securities Inc. grew its stake in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the period. Finally, CoreCap Advisors LLC lifted its position in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the period. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Company Profile

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.