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

Caesars Entertainment (NASDAQ:CZR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Barclays restated an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Jefferies Financial Group lifted their price objective on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, April 6th. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $31.00 in a report on Friday, May 29th. Texas Capital lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Citizens Jmp raised their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

Caesars Entertainment Stock Performance

CZR opened at $29.86 on Thursday. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The business has a fifty day simple moving average of $29.14 and a 200 day simple moving average of $26.25. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $30.96. The company has a market capitalization of $6.08 billion, a PE ratio of -12.60 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business earned ($0.54) EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts expect that Caesars Entertainment will post -0.5 EPS for the current year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.

Institutional Trading of Caesars Entertainment

Several large investors have recently made changes to their positions in CZR. Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 317.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after buying an additional 2,490,924 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Caesars Entertainment by 61.9% during the fourth quarter. SG Americas Securities LLC now owns 1,097,763 shares of the company’s stock worth $25,677,000 after buying an additional 419,617 shares in the last quarter. Ruffer LLP bought a new position in shares of Caesars Entertainment in the 4th quarter valued at $2,820,000. Hudson Bay Capital Management LP acquired a new stake in shares of Caesars Entertainment during the 3rd quarter valued at $7,230,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.