Caesars Entertainment (NASDAQ:CZR) Rating Lowered to “Strong Sell” at Zacks Research

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

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

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $29.06 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 7.15. The stock has a market cap of $5.92 billion, a PE ratio of -11.09 and a beta of 1.90. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $30.88. The business’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $27.66.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company posted ($0.27) EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Caesars Entertainment will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other news, CMO Josh Jones sold 59,507 shares of Caesars Entertainment stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total transaction of $1,768,548.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total value of $6,164,929.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 322,682 shares of company stock valued at $9,565,403 over the last three months. Company insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Integrity Alliance LLC. acquired a new stake in shares of Caesars Entertainment in the third quarter valued at about $260,000. Pinnacle Wealth Planning Services Inc. raised its position in shares of Caesars Entertainment by 82.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,020 shares of the company’s stock worth $60,000 after acquiring an additional 915 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Caesars Entertainment by 1,214.5% in the third quarter. Signaturefd LLC now owns 18,100 shares of the company’s stock worth $537,000 after acquiring an additional 16,723 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Caesars Entertainment by 15.2% in the third quarter. Evergreen Capital Management LLC now owns 31,735 shares of the company’s stock worth $941,000 after acquiring an additional 4,183 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Caesars Entertainment by 296.2% in the third quarter. Sterling Capital Management LLC now owns 24,070 shares of the company’s stock worth $714,000 after acquiring an additional 17,995 shares during the period. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

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.