Caesars Entertainment (NASDAQ:CZR) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Caesars Entertainment (NASDAQ:CZR) from a hold rating to a strong sell rating in a report issued on Monday,Zacks reports.

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

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $29.06 on Monday. The firm’s 50 day simple moving average is $29.44 and its 200-day simple moving average is $27.66. The company has a debt-to-equity ratio of 7.15, a quick ratio of 0.80 and a current ratio of 0.82. Caesars Entertainment has a one year low of $17.86 and a one year high of $30.88. The firm has a market cap of $5.92 billion, a PE ratio of -11.09 and a beta of 1.90.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Caesars Entertainment had a negative net margin of 4.55% and a negative return on equity of 9.83%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.27) EPS. As a group, equities analysts predict that Caesars Entertainment will post -1.13 EPS for the current year.

Insider Activity

In other news, Director Janis Jones Blackhurst sold 33,899 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $29.63, for a total transaction of $1,004,427.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Josh Jones sold 59,507 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $29.72, for a total value of $1,768,548.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders 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

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new position in shares of Caesars Entertainment during the 2nd quarter worth $30,967,000. Jefferies Financial Group Inc. acquired a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $1,110,000. Man Group plc acquired a new stake in shares of Caesars Entertainment during the 2nd quarter worth about $32,953,000. Governors Lane LP purchased a new stake in Caesars Entertainment in the 2nd quarter valued at about $2,921,000. Finally, Tidal Investments LLC raised its holdings in Caesars Entertainment by 198.6% in the 2nd quarter. Tidal Investments LLC now owns 292,248 shares of the company’s stock valued at $8,820,000 after buying an additional 194,361 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

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.