Caesars Entertainment (NASDAQ:CZR) Upgraded at Zacks Research

Zacks Research upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a strong sell rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on CZR. Morgan Stanley upped their target price 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. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Barclays restated an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Truist Financial cut Caesars Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Caesars Entertainment Trading Down 0.2%

Shares of CZR stock opened at $29.86 on Thursday. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $30.96. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83. The business’s fifty day moving average price is $29.14 and its 200 day moving average price is $26.25. The firm has a market capitalization of $6.08 billion, a PE ratio of -12.60 and a beta of 1.76.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, April 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.Caesars Entertainment’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. As a group, sell-side analysts forecast that Caesars Entertainment will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 293,463 shares of company stock valued at $8,609,241. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after purchasing an additional 918 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of 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 buying an additional 488 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company’s stock valued at $42,000 after buying an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Caesars Entertainment by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company’s stock valued at $50,000 after buying an additional 702 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.