BidaskClub Downgrades Caesars Entertainment (NASDAQ:CZR) to Hold

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Caesars Entertainment (NASDAQ:CZR) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, November 11th. UBS Group raised their target price on shares of Caesars Entertainment from $12.00 to $13.75 and gave the stock a “neutral” rating in a report on Friday, January 10th. TheStreet cut shares of Caesars Entertainment from a “c-” rating to a “d+” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank set a $13.00 target price on shares of Caesars Entertainment and gave the stock a “buy” rating in a report on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.50.

Shares of NASDAQ:CZR traded up $0.08 during trading on Tuesday, reaching $13.64. 289,049 shares of the stock traded hands, compared to its average volume of 11,420,022. The stock has a 50-day moving average of $13.35 and a two-hundred day moving average of $12.30. Caesars Entertainment has a 52-week low of $8.00 and a 52-week high of $13.69. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.26 and a current ratio of 1.27. The stock has a market cap of $9.31 billion, a P/E ratio of -71.79 and a beta of 1.40.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.49). Caesars Entertainment had a negative return on equity of 14.01% and a negative net margin of 7.98%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Caesars Entertainment will post -0.76 earnings per share for the current year.

In other Caesars Entertainment news, CAO Keith Causey sold 5,605 shares of Caesars Entertainment stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.08, for a total value of $73,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas M. Benninger sold 9,000 shares of Caesars Entertainment stock in a transaction on Monday, November 25th. The shares were sold at an average price of $13.10, for a total transaction of $117,900.00. Following the completion of the sale, the director now owns 28,960 shares in the company, valued at $379,376. The disclosure for this sale can be found here. Insiders sold 133,273 shares of company stock worth $1,736,271 over the last quarter. Insiders own 0.51% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. HM Capital Management LLC boosted its position in Caesars Entertainment by 0.6% in the 3rd quarter. HM Capital Management LLC now owns 172,884 shares of the company’s stock valued at $2,016,000 after buying an additional 1,054 shares during the period. Redwood Investment Management LLC grew its position in Caesars Entertainment by 3.9% during the 3rd quarter. Redwood Investment Management LLC now owns 91,207 shares of the company’s stock worth $1,063,000 after purchasing an additional 3,398 shares during the last quarter. Cetera Advisors LLC grew its position in Caesars Entertainment by 26.6% during the 3rd quarter. Cetera Advisors LLC now owns 19,775 shares of the company’s stock worth $231,000 after purchasing an additional 4,150 shares during the last quarter. Strs Ohio grew its position in Caesars Entertainment by 46.8% during the 3rd quarter. Strs Ohio now owns 21,383 shares of the company’s stock worth $249,000 after purchasing an additional 6,819 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Caesars Entertainment during the 3rd quarter worth approximately $127,000.

About Caesars Entertainment

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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Analyst Recommendations for Caesars Entertainment (NASDAQ:CZR)

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