Zacks Research Downgrades Caesars Entertainment (NASDAQ:CZR) to Strong Sell

Caesars Entertainment (NASDAQ:CZR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Monday, June 1st. Texas Capital cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, TD Cowen downgraded 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 Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.71.

Caesars Entertainment Trading Down 0.1%

Shares of CZR stock opened at $29.63 on Monday. The stock has a market cap of $6.04 billion, a P/E ratio of -13.00 and a beta of 1.77. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.70. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The business has a fifty day simple moving average of $29.83 and a 200-day simple moving average of $27.23.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%.Caesars Entertainment’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. On average, analysts forecast that Caesars Entertainment will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other Caesars Entertainment news, CMO Josh Jones sold 59,507 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $29.72, for a total transaction of $1,768,548.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 18,263 shares in the company, valued at $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 352,970 shares of company stock valued at $10,377,789 in the last three months. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in Caesars Entertainment by 47.7% during the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after acquiring an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Caesars Entertainment by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after purchasing an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after purchasing an additional 826,356 shares during the last quarter. Woodline Partners LP grew its stake in Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after purchasing an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after purchasing an additional 3,198 shares in 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.