Caesars Entertainment (NASDAQ:CZR) Downgraded to “Neutral” Rating by The Goldman Sachs Group

Caesars Entertainment (NASDAQ:CZR) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports. They currently have a $24.00 target price on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 2.11% from the company’s current price.

A number of other research firms have also recently issued reports on CZR. JMP Securities decreased their price target on shares of Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating for the company in a report on Friday, October 17th. Citizens Jmp lowered their price target on Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.39.

Caesars Entertainment Stock Down 4.2%

Shares of CZR stock traded down $1.03 during mid-day trading on Monday, hitting $23.51. 855,512 shares of the stock traded hands, compared to its average volume of 6,589,733. Caesars Entertainment has a 52-week low of $18.25 and a 52-week high of $40.00. The stock has a market cap of $4.80 billion, a P/E ratio of -20.59 and a beta of 2.04. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.76. The stock’s fifty day moving average is $21.84 and its two-hundred day moving average is $25.29.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm earned ($0.04) EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC raised its stake in shares of Caesars Entertainment by 508.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after buying an additional 722 shares during the period. Hantz Financial Services Inc. raised its position in Caesars Entertainment by 110.6% during the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after acquiring an additional 510 shares during the period. Mather Group LLC. purchased a new position in Caesars Entertainment during the third quarter valued at $28,000. Sunbelt Securities Inc. grew its position in shares of Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock worth $30,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds 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.