Caesars Entertainment (NASDAQ:CZR) Stock Rating Lowered by StockNews.com

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

CZR has been the topic of several other research reports. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley began coverage on Caesars Entertainment in a report on Thursday, May 9th. They issued a “buy” rating and a $70.00 price target for the company. Jefferies Financial Group dropped their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. JMP Securities reduced their target price on Caesars Entertainment from $60.00 to $58.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. Finally, TD Cowen lowered their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.53.

Caesars Entertainment Stock Performance

NASDAQ:CZR traded down $2.59 during mid-day trading on Thursday, reaching $37.36. 8,681,962 shares of the stock were exchanged, compared to its average volume of 4,031,190. The stock has a market capitalization of $8.09 billion, a P/E ratio of 10.58 and a beta of 2.98. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $58.29. The company has a 50 day simple moving average of $36.78 and a 200-day simple moving average of $39.55. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 2.65.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.82 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.54%. Analysts anticipate that Caesars Entertainment will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael E. Pegram purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $31.96 per share, for a total transaction of $319,600.00. Following the acquisition, the director now directly owns 191,697 shares in the company, valued at $6,126,636.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Caesars Entertainment news, Director Michael E. Pegram purchased 40,000 shares of Caesars Entertainment stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $36.39 per share, with a total value of $1,455,600.00. Following the completion of the transaction, the director now directly owns 181,697 shares in the company, valued at approximately $6,611,953.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Pegram acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $31.96 per share, with a total value of $319,600.00. Following the transaction, the director now directly owns 191,697 shares of the company’s stock, valued at $6,126,636.12. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Caesars Entertainment in the 4th quarter valued at about $45,000. Principal Securities Inc. acquired a new stake in shares of Caesars Entertainment during the fourth quarter valued at about $46,000. Mather Group LLC. purchased a new stake in shares of Caesars Entertainment during the first quarter worth about $53,000. Finally, TFO Wealth Partners LLC lifted its stake in shares of Caesars Entertainment by 22,920.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after acquiring an additional 1,146 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.