Caesars Entertainment (NASDAQ:CZR) Downgraded to Sell Rating by Wall Street Zen

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

CZR has been the subject of a number of other reports. Truist Financial decreased their price objective on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on Caesars Entertainment from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on Caesars Entertainment from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus reduced their target price on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.06.

Caesars Entertainment Stock Up 7.8%

Shares of Caesars Entertainment stock opened at $20.10 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a 12 month low of $18.25 and a 12 month high of $41.77. The business has a fifty day simple moving average of $24.63 and a 200 day simple moving average of $26.61. The stock has a market cap of $4.10 billion, a PE ratio of -17.48 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) 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 company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts predict that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. Norges Bank bought a new stake in shares of Caesars Entertainment in the second quarter valued at about $79,604,000. Hein Park Capital Management LP acquired a new stake in shares of Caesars Entertainment in the first quarter valued at about $60,492,000. HG Vora Capital Management LLC increased its position in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after acquiring an additional 1,650,000 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Caesars Entertainment by 654.5% in the second quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock valued at $50,747,000 after acquiring an additional 1,550,589 shares during the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in shares of Caesars Entertainment in the first quarter valued at about $38,711,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Company Profile

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.