Zacks Investment Research upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “
A number of other equities analysts also recently commented on the company. BidaskClub upgraded Caesars Entertainment from a strong sell rating to a sell rating in a report on Wednesday, September 12th. Bank of America reaffirmed a buy rating and issued a $11.00 price target on shares of Caesars Entertainment in a research note on Tuesday, October 16th. Deutsche Bank began coverage on Caesars Entertainment in a research note on Tuesday, September 4th. They issued a buy rating and a $14.00 price target on the stock. Credit Suisse Group began coverage on Caesars Entertainment in a research note on Tuesday, September 11th. They issued an outperform rating and a $13.00 price target on the stock. Finally, UBS Group began coverage on Caesars Entertainment in a research note on Monday, September 24th. They issued a sell rating and a $9.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Caesars Entertainment currently has a consensus rating of Hold and an average target price of $13.10.
Shares of Caesars Entertainment stock traded down $0.50 during midday trading on Tuesday, reaching $8.51. 20,951,808 shares of the company’s stock traded hands, compared to its average volume of 27,107,222. The company has a quick ratio of 1.96, a current ratio of 1.16 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.38 billion, a PE ratio of -2.53, a P/E/G ratio of 14.88 and a beta of 0.81. Caesars Entertainment has a 12 month low of $7.95 and a 12 month high of $14.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. purchased a new stake in shares of Caesars Entertainment in the third quarter worth $102,000. Sawtooth Solutions LLC purchased a new stake in shares of Caesars Entertainment in the second quarter worth $108,000. KCM Investment Advisors LLC purchased a new stake in shares of Caesars Entertainment in the second quarter worth $120,000. IBM Retirement Fund purchased a new stake in shares of Caesars Entertainment in the second quarter worth $125,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Caesars Entertainment in the third quarter worth $148,000.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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