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

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

CZR has been the subject of a number of other research reports. Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Jefferies Financial Group lifted their price target on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a report on Monday, April 6th. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Friday, May 29th. Finally, Citigroup increased their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.53.

Caesars Entertainment Trading Up 0.8%

NASDAQ:CZR opened at $30.41 on Tuesday. The company has a market cap of $6.19 billion, a PE ratio of -12.83 and a beta of 1.76. The business’s 50 day moving average is $28.60 and its two-hundred day moving average is $25.79. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58.

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

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 293,463 shares of company stock worth $8,609,241 over the last ninety days. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Caesars Entertainment

Several hedge funds have recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its stake in Caesars Entertainment by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock valued at $827,000 after purchasing an additional 363 shares during the period. CoreCap Advisors LLC increased its stake in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock valued at $1,220,000 after buying an additional 493 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Caesars Entertainment by 3.5% during the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock valued at $459,000 after buying an additional 549 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Caesars Entertainment by 1.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after buying an additional 562 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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.