Comerica Bank Raises Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

Comerica Bank increased its position in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 80.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,615 shares of the company’s stock after buying an additional 117,811 shares during the period. Comerica Bank owned about 0.12% of Caesars Entertainment worth $8,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FIL Ltd purchased a new position in Caesars Entertainment during the 4th quarter valued at about $28,000. Bogart Wealth LLC increased its holdings in Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 800 shares during the period. Resona Asset Management Co. Ltd. bought a new position in Caesars Entertainment in the fourth quarter worth approximately $44,000. Canada Pension Plan Investment Board lifted its holdings in Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 800 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Caesars Entertainment during the 4th quarter valued at $71,000. 91.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CZR. Macquarie decreased their price objective on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and issued a $45.00 price target on shares of Caesars Entertainment in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barclays increased their target price on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Caesars Entertainment from $51.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.64.

Caesars Entertainment Stock Up 2.2 %

Shares of CZR stock opened at $27.80 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.93. The firm has a market capitalization of $5.90 billion, a PE ratio of -16.65 and a beta of 2.67. The stock’s 50-day simple moving average is $27.25 and its 200-day simple moving average is $33.62.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.35). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.73) earnings per share. Equities analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

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.