Zacks Investment Research downgraded shares of Caesars Entertainment (NASDAQ:CZR) from a hold rating to a sell rating in a research note issued to investors on Thursday.
According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Caesars Entertainment from a hold rating to a sell rating in a research report on Thursday, October 25th. Jefferies Financial Group set a $11.00 target price on shares of Caesars Entertainment and gave the stock a hold rating in a research report on Friday, November 2nd. UBS Group upgraded shares of Caesars Entertainment from a sell rating to a neutral rating and cut their target price for the stock from $9.00 to $7.00 in a research report on Wednesday, January 2nd. Morgan Stanley set a $12.00 target price on shares of Caesars Entertainment and gave the stock a buy rating in a research report on Friday, November 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of Caesars Entertainment in a research report on Thursday, November 15th. They set a market perform rating on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $12.60.
NASDAQ:CZR opened at $8.71 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 1.14 and a current ratio of 1.16. Caesars Entertainment has a one year low of $5.84 and a one year high of $14.50. The company has a market cap of $5.21 billion, a P/E ratio of -2.58 and a beta of 0.94.
Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Thursday, November 1st. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Caesars Entertainment had a net margin of 25.75% and a return on equity of 2.26%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. On average, analysts expect that Caesars Entertainment will post 0.06 earnings per share for the current fiscal year.
In other news, Director Don R. Kornstein purchased 20,000 shares of the stock in a transaction on Friday, December 21st. The stock was purchased at an average price of $6.29 per share, for a total transaction of $125,800.00. Following the acquisition, the director now owns 88,552 shares in the company, valued at $556,992.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marco Roca sold 17,834 shares of Caesars Entertainment stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total transaction of $146,417.14. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 81,000 shares of company stock valued at $585,190. Company insiders own 0.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CZR. Levin Capital Strategies L.P. bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $102,000. Lehman Financial Resources Inc. bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $123,000. Oakbrook Investments LLC bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at $148,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Caesars Entertainment by 309.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 177,460 shares of the company’s stock valued at $171,000 after acquiring an additional 134,067 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Caesars Entertainment in the 2nd quarter valued at $181,000.
About Caesars Entertainment
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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