Caesars Entertainment (NASDAQ:CZR) Trading 4.2% Higher - Here's Why

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report)'s share price rose 4.2% during trading on Friday . The company traded as high as $28.26 and last traded at $28.32. Approximately 1,048,384 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 4,880,668 shares. The stock had previously closed at $27.17.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. Raymond James dropped their price objective on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 19th. JMP Securities dropped their price objective on Caesars Entertainment from $53.00 to $45.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 17th. Susquehanna lowered their price target on Caesars Entertainment from $30.00 to $23.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $45.86.

Caesars Entertainment Stock Down 1.3 %

The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of -16.80 and a beta of 2.67. 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 firm has a fifty day moving average price of $27.91 and a 200 day moving average price of $34.04.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. Sell-side analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Caesars Entertainment by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock valued at $780,854,000 after buying an additional 100,263 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock valued at $662,088,000 after acquiring an additional 2,555,876 shares during the period. Cohen & Steers Inc. boosted its holdings in Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after acquiring an additional 1,882,728 shares during the last quarter. Invesco Ltd. increased its position in Caesars Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company's stock worth $185,594,000 after purchasing an additional 1,213,426 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in Caesars Entertainment by 41.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,658,694 shares of the company's stock worth $122,274,000 after purchasing an additional 1,065,506 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

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.