Caesars Entertainment (NASDAQ:CZR) 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 research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Truist Financial dropped their price objective on shares of Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Citizens Jmp decreased their target price on shares of Caesars Entertainment from $40.00 to $37.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company assumed coverage on Caesars Entertainment in a report on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on Caesars Entertainment from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Caesars Entertainment Trading Down 0.6%

NASDAQ:CZR opened at $23.39 on Tuesday. The stock’s 50 day moving average price is $22.19 and its 200 day moving average price is $25.06. The company has a market capitalization of $4.77 billion, a PE ratio of -20.34 and a beta of 2.04. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a 52-week low of $18.25 and a 52-week high of $40.00.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data 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 firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. Caesars Entertainment’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, research analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. JFS Wealth Advisors LLC increased its holdings in Caesars Entertainment by 508.5% in the second 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 last quarter. Hantz Financial Services Inc. increased its stake in shares of Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Caesars Entertainment during the 3rd quarter worth $28,000. Sunbelt Securities Inc. raised its holdings in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after purchasing an additional 672 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Caesars Entertainment by 52.0% in the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after purchasing an additional 359 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Company Profile

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.