BidaskClub upgraded shares of Caesars Entertainment (NASDAQ:CZR) from a strong sell rating to a sell rating in a research note issued to investors on Friday.
Other analysts have also issued reports about the company. Morgan Stanley set a $12.00 price objective on Caesars Entertainment and gave the company a buy rating in a report on Friday, November 2nd. Oppenheimer set a $15.00 price objective on Caesars Entertainment and gave the company a buy rating in a report on Thursday, November 1st. Bank of America reissued a buy rating and issued a $11.00 price objective on shares of Caesars Entertainment in a report on Tuesday, October 16th. Deutsche Bank lowered their price objective on Caesars Entertainment from $13.00 to $11.00 and set a buy rating for the company in a report on Monday, January 7th. Finally, Zacks Investment Research raised Caesars Entertainment from a sell rating to a hold rating in a report on Tuesday, November 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Caesars Entertainment presently has a consensus rating of Hold and a consensus price target of $12.60.
Shares of CZR traded up $0.72 during midday trading on Friday, reaching $8.71. 46,501,399 shares of the company were exchanged, compared to its average volume of 25,260,738. The stock has a market cap of $5.21 billion, a PE ratio of -2.58 and a beta of 0.94. Caesars Entertainment has a 1-year low of $5.84 and a 1-year high of $14.50. The company has a debt-to-equity ratio of 5.93, a current ratio of 1.16 and a quick ratio of 1.14.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Thursday, November 1st. The company reported ($0.03) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.03). Caesars Entertainment had a return on equity of 2.26% and a net margin of 25.75%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.19 billion. On average, research analysts anticipate that Caesars Entertainment will post 0.06 earnings per share for the current year.
In related news, Director Don R. Kornstein acquired 20,000 shares of the business’s stock in a transaction dated Friday, December 21st. The stock was bought at an average price of $6.29 per share, for a total transaction of $125,800.00. Following the transaction, the director now owns 88,552 shares of the company’s stock, valued at $556,992.08. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marco Roca sold 17,834 shares of the stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total value of $146,417.14. The disclosure for this sale can be found here. Insiders acquired 81,000 shares of company stock valued at $585,190 over the last 90 days. 0.92% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. acquired a new stake in Caesars Entertainment during the 3rd quarter valued at $102,000. Lehman Financial Resources Inc. acquired a new stake in Caesars Entertainment during the 3rd quarter valued at $123,000. Oakbrook Investments LLC acquired a new stake in Caesars Entertainment during the 3rd quarter valued at $148,000. Tower Research Capital LLC TRC acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $181,000. Finally, Strs Ohio raised its stake in Caesars Entertainment by 4,177.8% during the 2nd quarter. Strs Ohio now owns 17,111 shares of the company’s stock valued at $183,000 after purchasing an additional 16,711 shares during the period.
Caesars Entertainment Company Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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