Caesars Entertainment (NASDAQ:CZR) Lowered to “Hold” Rating by Capital One Financial

Capital One Financial downgraded shares of Caesars Entertainment (NASDAQ:CZR) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on CZR. Barclays reissued an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a report on Monday, May 18th. Stifel Nicolaus cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and an average price target of $31.00.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $29.90 on Thursday. The stock has a 50-day simple moving average of $29.39 and a two-hundred day simple moving average of $26.45. The firm has a market capitalization of $6.09 billion, a P/E ratio of -12.62 and a beta of 1.76. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.54) EPS. On average, equities analysts forecast that Caesars Entertainment will post -0.49 earnings per share for the current year.

Insider Activity at Caesars Entertainment

In other news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares in the company, valued at $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Pegram sold 16,897 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 293,463 shares of company stock worth $8,609,241. 1.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its stake in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after purchasing an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after buying an additional 488 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Caesars Entertainment by 87.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock worth $42,000 after buying an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Caesars Entertainment by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $50,000 after buying an additional 702 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

About Caesars Entertainment

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.