PNC Financial Services Group Inc. Raises Stock Holdings in Caesars Entertainment, Inc. (NASDAQ:CZR)

PNC Financial Services Group Inc. boosted its stake in shares of Caesars Entertainment, Inc. (NASDAQ:CZR) by 56.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,424 shares of the company’s stock after acquiring an additional 11,665 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Caesars Entertainment were worth $1,353,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Caesars Entertainment by 4.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 66,907 shares of the company’s stock worth $2,928,000 after acquiring an additional 2,596 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Caesars Entertainment in the first quarter valued at approximately $442,000. Comerica Bank lifted its stake in Caesars Entertainment by 345.0% during the first quarter. Comerica Bank now owns 107,355 shares of the company’s stock worth $4,696,000 after purchasing an additional 83,231 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Caesars Entertainment by 26.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,420 shares of the company’s stock worth $1,173,000 after buying an additional 5,715 shares during the period. Finally, American Trust raised its holdings in shares of Caesars Entertainment by 4.5% in the 1st quarter. American Trust now owns 7,346 shares of the company’s stock valued at $321,000 after buying an additional 313 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group lowered their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Macquarie reissued an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Susquehanna reaffirmed a “negative” rating and set a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. JMP Securities decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday. Finally, Barclays dropped their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.86.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $38.25 on Thursday. Caesars Entertainment, Inc. has a 12 month low of $31.74 and a 12 month high of $50.51. 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 company has a market cap of $8.13 billion, a P/E ratio of -22.90 and a beta of 2.96. The firm has a fifty day moving average price of $41.60 and a 200 day moving average price of $38.39.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. Sell-side analysts predict that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

About Caesars Entertainment

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.