Caesars Entertainment (NASDAQ:CZR) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Caesars Entertainment (NASDAQ:CZR) from a hold rating to a sell rating in a research note published on Thursday.

CZR has been the topic of a number of other research reports. B. Riley initiated coverage on shares of Caesars Entertainment in a research note on Thursday, May 9th. They set a buy rating and a $70.00 target price on the stock. Morgan Stanley reduced their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Caesars Entertainment from $62.00 to $59.00 and set a buy rating on the stock in a research report on Friday, April 12th. Stifel Nicolaus lifted their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, JMP Securities reduced their price objective on shares of Caesars Entertainment from $60.00 to $58.00 and set a market outperform rating on the stock in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $54.14.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $35.66 on Thursday. Caesars Entertainment has a one year low of $31.74 and a one year high of $58.29. The company’s 50-day moving average is $36.91 and its 200 day moving average is $39.40. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 10.10 and a beta of 2.99. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.67 and a current ratio of 0.70.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the company earned $0.82 EPS. Caesars Entertainment’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts expect that Caesars Entertainment will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank J. Fahrenkopf, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $32.52, for a total value of $325,200.00. Following the completion of the sale, the director now directly owns 350 shares of the company’s stock, valued at $11,382. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after acquiring an additional 499 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at $45,000. Principal Securities Inc. purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at $46,000. Mather Group LLC. purchased a new position in shares of Caesars Entertainment in the 1st quarter valued at $53,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after purchasing an additional 1,146 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

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.