Caesars Entertainment (NASDAQ:CZR) Cut to “Hold” at Citigroup

Citigroup cut shares of Caesars Entertainment (NASDAQ:CZR) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley boosted their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Stifel Nicolaus decreased their price objective on shares of Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Citizens Jmp dropped their target price on shares of Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 18th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Caesars Entertainment Stock Down 1.7%

Shares of CZR opened at $27.22 on Wednesday. The stock’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $23.46. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $31.58. The company has a market capitalization of $5.54 billion, a PE ratio of -11.20 and a beta of 1.87. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its stake in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after acquiring an additional 510 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Caesars Entertainment by 456.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after acquiring an additional 918 shares in the last quarter. Mather Group LLC. acquired a new stake in Caesars Entertainment in the third quarter worth $28,000. Sunbelt Securities Inc. grew its holdings in Caesars Entertainment by 181.6% in the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after purchasing an additional 672 shares during the period. Finally, CoreCap Advisors LLC increased its stake in Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.