Caesars Entertainment (NASDAQ:CZR) Raised to “Hold” at Zacks Research

Caesars Entertainment (NASDAQ:CZR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

CZR has been the subject of several other reports. Jefferies Financial Group lifted their price target on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a report on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research report on Friday, May 29th. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

Caesars Entertainment Trading Down 0.2%

NASDAQ CZR opened at $29.86 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $30.96. The firm’s fifty day simple moving average is $29.14 and its 200-day simple moving average is $26.25. The company has a market capitalization of $6.08 billion, a PE ratio of -12.60 and a beta of 1.76.

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 analysts’ consensus estimates of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business posted ($0.54) EPS. Caesars Entertainment’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Caesars Entertainment will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael E. Pegram sold 16,897 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The disclosure for this sale is available in the SEC filing. Insiders have sold 293,463 shares of company stock valued at $8,609,241 in the last ninety days. Company 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 made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Caesars Entertainment by 246,899,900.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after purchasing an additional 4,937,998 shares during the period. Morgan Stanley lifted its holdings in shares of Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after buying an additional 3,910,430 shares during the last quarter. Norges Bank acquired a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $76,050,000. MUFG Securities EMEA plc bought a new stake in shares of Caesars Entertainment in the fourth quarter valued at approximately $65,492,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Caesars Entertainment by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after acquiring an additional 2,490,924 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.