BidaskClub Downgrades Caesars Entertainment (NASDAQ:CZR) to Hold

Caesars Entertainment (NASDAQ:CZR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently commented on the stock. TheStreet cut shares of Caesars Entertainment from a “c-” rating to a “d+” rating in a research report on Tuesday, October 29th. UBS Group raised their price objective on shares of Caesars Entertainment from $12.00 to $13.75 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Zacks Investment Research cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Deutsche Bank set a $13.00 price objective on shares of Caesars Entertainment and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, ValuEngine cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Caesars Entertainment presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Shares of NASDAQ CZR traded up $0.08 during mid-day trading on Tuesday, reaching $13.64. The company’s stock had a trading volume of 289,049 shares, compared to its average volume of 11,420,022. The stock has a 50-day moving average of $13.35 and a two-hundred day moving average of $12.30. The stock has a market capitalization of $9.31 billion, a P/E ratio of -71.79 and a beta of 1.40. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.26 and a current ratio of 1.27. Caesars Entertainment has a 1-year low of $8.00 and a 1-year high of $13.69.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.49). The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.21 billion. Caesars Entertainment had a negative net margin of 7.98% and a negative return on equity of 14.01%. Caesars Entertainment’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share. Analysts predict that Caesars Entertainment will post -0.76 EPS for the current fiscal year.

In other Caesars Entertainment news, EVP Richard D. Broome sold 118,668 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.02, for a total transaction of $1,545,057.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Keith Causey sold 5,605 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $13.08, for a total transaction of $73,313.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,273 shares of company stock valued at $1,736,271. 0.51% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Icahn Carl C boosted its stake in shares of Caesars Entertainment by 15.1% in the third quarter. Icahn Carl C now owns 114,250,942 shares of the company’s stock valued at $1,332,166,000 after purchasing an additional 15,000,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Caesars Entertainment by 0.9% in the second quarter. Vanguard Group Inc. now owns 51,663,425 shares of the company’s stock valued at $610,662,000 after purchasing an additional 453,665 shares during the period. Magnetar Financial LLC purchased a new position in shares of Caesars Entertainment in the second quarter valued at approximately $156,095,000. Eagle Asset Management Inc. boosted its stake in shares of Caesars Entertainment by 3.9% in the third quarter. Eagle Asset Management Inc. now owns 8,743,316 shares of the company’s stock valued at $101,947,000 after purchasing an additional 330,276 shares during the period. Finally, Omni Partners LLP purchased a new position in shares of Caesars Entertainment in the second quarter valued at approximately $86,908,000.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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Analyst Recommendations for Caesars Entertainment (NASDAQ:CZR)

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