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

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Truist Financial decreased their price target on shares of Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. JMP Securities dropped their target price on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 17th. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Stifel Nicolaus dropped their price target on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $23.39 on Tuesday. The stock has a 50-day moving average price of $22.18 and a two-hundred day moving average price of $25.07. The company has a market capitalization of $4.77 billion, a PE ratio of -20.34 and a beta of 2.04. Caesars Entertainment has a 12 month low of $18.25 and a 12 month high of $40.00. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 6.23.

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

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. lifted its position in Caesars Entertainment by 2.3% during the second quarter. Vontobel Holding Ltd. now owns 15,795 shares of the company’s stock valued at $448,000 after purchasing an additional 356 shares during the period. UMB Bank n.a. grew its stake in Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Caesars Entertainment by 1.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company’s stock worth $728,000 after acquiring an additional 476 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after acquiring an additional 478 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake 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 buying an additional 510 shares during the period. 91.79% of the stock is owned by hedge funds and other 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.