Caesars Entertainment (NASDAQ:CZR) Downgraded by Capital One Financial to Hold

Caesars Entertainment (NASDAQ:CZR) was downgraded by investment analysts at Capital One Financial from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other analysts also recently commented on CZR. Texas Capital downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Citizens Jmp raised their target price on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Truist Financial lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $31.00 in a report on Friday, May 29th. Stifel Nicolaus downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Monday, June 15th. Finally, Citigroup upped their target price on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.00.

Caesars Entertainment Trading Down 0.1%

Shares of Caesars Entertainment stock opened at $29.90 on Thursday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of -12.62 and a beta of 1.76. Caesars Entertainment has a 1 year low of $17.86 and a 1 year high of $30.88. The company’s fifty day simple moving average is $29.39 and its 200-day simple moving average is $26.45. 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 (NASDAQ:CZR) last posted its quarterly earnings results 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 company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.54) earnings per share. As a group, sell-side analysts expect that Caesars Entertainment will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram sold 55,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total value of $2,393,962.10. Following the completion of the sale, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. This trade represents a 81.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 293,463 shares of company stock worth $8,609,241. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after buying an additional 4,937,998 shares during the last quarter. Morgan Stanley raised its position 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 acquiring 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 valued at $76,050,000. MUFG Securities EMEA plc acquired a new position in shares of Caesars Entertainment during the fourth quarter valued at $65,492,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Caesars Entertainment by 35,370.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,464,518 shares of the company’s stock valued at $57,645,000 after acquiring an additional 2,457,570 shares during the last quarter. 91.79% of the stock is owned by 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.