Caesars Entertainment (NASDAQ:CZR) Rating Lowered to “Hold” at Capital One Financial

Caesars Entertainment (NASDAQ:CZR) was downgraded by investment analysts at Capital One Financial from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also issued reports on CZR. Stifel Nicolaus lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, June 15th. Zacks Research raised Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Barclays restated an “equal weight” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Finally, Wall Street Zen raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.00.

Caesars Entertainment Trading Up 0.1%

CZR stock opened at $29.94 on Thursday. The company has a market capitalization of $6.10 billion, a PE ratio of -12.63 and a beta of 1.76. Caesars Entertainment has a one year low of $17.86 and a one year high of $30.88. The company’s 50 day moving average price is $29.43 and its two-hundred day moving average price is $26.47. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the company posted ($0.54) EPS. Caesars Entertainment’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts predict that Caesars Entertainment will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Caesars Entertainment

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

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently modified their holdings of CZR. Pictet Asset Management Holding SA grew its position in shares of Caesars Entertainment by 1.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 31,307 shares of the company’s stock worth $827,000 after buying an additional 363 shares during the period. CoreCap Advisors LLC lifted its position in Caesars Entertainment by 44.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock valued at $37,000 after acquiring an additional 488 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Caesars Entertainment by 1.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,133 shares of the company’s stock worth $1,220,000 after acquiring an additional 493 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Caesars Entertainment by 3.5% in the second quarter. Corient Private Wealth LLC now owns 16,155 shares of the company’s stock worth $459,000 after purchasing an additional 549 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Caesars Entertainment by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the company’s stock worth $959,000 after purchasing an additional 562 shares during the period. Institutional investors 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.