Caesars Entertainment (NASDAQ:CZR) Downgraded to Neutral Rating by Macquarie Infrastructure

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Macquarie Infrastructure from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday,MarketScreener reports.

Several other research firms also recently commented on CZR. Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Citigroup raised their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Barclays dropped their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Truist Financial downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their target price for the stock from $32.00 to $31.00 in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and an average price target of $32.80.

Caesars Entertainment Stock Up 0.5%

Shares of Caesars Entertainment stock traded up $0.15 on Monday, reaching $29.20. 13,077,760 shares of the company were exchanged, compared to its average volume of 9,026,754. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a market cap of $5.95 billion, a P/E ratio of -12.29 and a beta of 1.77. 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 stock’s 50 day moving average price is $27.35 and its 200-day moving average price is $24.62.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data 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 firm 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 period last year, the firm posted ($0.54) earnings per share. As a group, equities analysts forecast that Caesars Entertainment will post -0.5 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. Cyrus Capital Partners L.P. bought a new position in shares of Caesars Entertainment during the 1st quarter valued at $37,795,000. Edgestream Partners L.P. bought a new stake in Caesars Entertainment in the first quarter worth $2,225,000. Janus Henderson Group PLC increased its position in Caesars Entertainment by 5.8% during the first quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock worth $172,582,000 after buying an additional 355,760 shares during the last quarter. Amundi increased its position in Caesars Entertainment by 205.1% during the first quarter. Amundi now owns 1,587,634 shares of the company’s stock worth $41,961,000 after buying an additional 1,067,259 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 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.