Susquehanna Downgrades Caesars Entertainment (NASDAQ:CZR) to Negative

Susquehanna cut shares of Caesars Entertainment (NASDAQ:CZR) from a neutral rating to a negative rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Susquehanna currently has $33.00 target price on the stock, down from their previous target price of $44.00.

A number of other research firms have also recently commented on CZR. Barclays reduced their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an overweight rating for the company in a report on Friday, April 19th. Morgan Stanley reduced their price objective on shares of Caesars Entertainment from $43.00 to $41.00 and set an equal weight rating for the company in a report on Friday, July 12th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $62.00 to $60.00 and set a market outperform rating for the company in a report on Thursday, May 2nd. TD Cowen reduced their price objective on shares of Caesars Entertainment from $53.00 to $50.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, Truist Financial reduced their price objective on shares of Caesars Entertainment from $58.00 to $52.00 and set a buy rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Caesars Entertainment has an average rating of Moderate Buy and an average price target of $54.33.

Caesars Entertainment Price Performance

CZR stock opened at $36.56 on Monday. The company has a fifty day moving average price of $36.69 and a 200-day moving average price of $40.18. The company has a market capitalization of $7.91 billion, a P/E ratio of 10.36 and a beta of 2.98. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $60.27. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.67 and a current ratio of 0.69.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, April 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.52). Caesars Entertainment had a return on equity of 1.27% and a net margin of 6.68%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.82 billion. As a group, equities analysts expect that Caesars Entertainment will post -0.13 EPS for the current year.

Insider Activity

In other news, Director Michael E. Pegram bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $31.96 per share, with a total value of $319,600.00. Following the acquisition, the director now owns 191,697 shares of the company’s stock, valued at approximately $6,126,636.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael E. Pegram purchased 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $36.39 per share, with a total value of $1,455,600.00. Following the purchase, the director now directly owns 181,697 shares in the company, valued at $6,611,953.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Pegram purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average cost of $31.96 per share, with a total value of $319,600.00. Following the purchase, the director now owns 191,697 shares in the company, valued at $6,126,636.12. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Caesars Entertainment by 270.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after buying an additional 20,692 shares during the last quarter. Choreo LLC raised its holdings in Caesars Entertainment by 39.1% during the 4th quarter. Choreo LLC now owns 17,678 shares of the company’s stock valued at $829,000 after buying an additional 4,970 shares during the last quarter. Strs Ohio raised its holdings in Caesars Entertainment by 33.2% during the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock valued at $31,723,000 after buying an additional 168,738 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Caesars Entertainment by 881.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 25,506 shares of the company’s stock valued at $1,196,000 after buying an additional 22,906 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Caesars Entertainment by 84.8% during the 4th quarter. TD Asset Management Inc now owns 489,577 shares of the company’s stock valued at $22,951,000 after buying an additional 224,629 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.