Caesars Entertainment (NASDAQ:CZR) Downgraded by Zacks Research to “Strong Sell”

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on CZR. Citizens Jmp boosted their price objective on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Susquehanna raised Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday, May 29th. Stifel Nicolaus cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research note on Monday, June 15th. Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and cut their price target for the stock from $32.00 to $31.00 in a report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.53.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $30.41 on Tuesday. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58. The company’s 50 day moving average price is $28.60 and its two-hundred day moving average price is $25.79. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The stock has a market cap of $6.19 billion, a P/E ratio of -12.83 and a beta of 1.76.

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

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $29.46, for a total value of $497,785.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the transaction, the insider directly owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 293,463 shares of company stock worth $8,609,241 over the last quarter. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA increased its stake in 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 acquiring an additional 363 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of 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 last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of 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 purchasing an additional 493 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 last quarter. 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.