Caesars Entertainment (NASDAQ:CZR) Stock Rating Lowered by Zacks Research

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

CZR has been the subject of several other reports. TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 29th. Weiss Ratings raised Caesars Entertainment from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Capital One Financial lowered Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Barclays cut Caesars Entertainment from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $31.00 in a research report on Thursday, July 9th. Finally, Susquehanna reissued a “neutral” rating on shares of Caesars Entertainment in a report on Monday, October 26th. One investment analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Caesars Entertainment has an average rating of “Reduce” and a consensus price target of $30.54.

Caesars Entertainment Stock Up 0.2%

CZR opened at $29.06 on Monday. The stock’s fifty day simple moving average is $29.44 and its 200 day simple moving average is $27.66. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $30.88. The stock has a market cap of $5.92 billion, a PE ratio of -11.09 and a beta of 1.90. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 7.15.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 27th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). Caesars Entertainment had a negative return on equity of 9.83% and a negative net margin of 4.55%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm earned ($0.27) earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts expect that Caesars Entertainment will post -1.13 earnings per share for the current year.

Insider Buying and Selling

In other Caesars Entertainment news, Director Janis Jones Blackhurst sold 33,899 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction on Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 322,682 shares of company stock valued at $9,565,403. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA lifted its holdings in shares of Caesars Entertainment by 1.2% in the first quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock worth $827,000 after acquiring an additional 363 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Caesars Entertainment by 272.8% in the 3rd quarter. Versant Capital Management Inc now owns 932 shares of the company’s stock valued at $28,000 after purchasing an additional 682 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after purchasing an additional 702 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Caesars Entertainment by 310.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,072 shares of the company’s stock valued at $32,000 after purchasing an additional 811 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Caesars Entertainment during the 2nd quarter valued at approximately $25,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company that operates casino resorts and related businesses primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other leisure amenities.

The company operates well-known destinations in Las Vegas, including Caesars Palace, Paris Las Vegas, Planet Hollywood Resort & Casino, and The Cromwell, as well as regional casinos and resorts across several U.S.