Caesars Entertainment (NASDAQ:CZR) Stock Rating Lowered by BidaskClub

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

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, November 11th. ValuEngine cut Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank set a $13.00 target price on Caesars Entertainment and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, TheStreet lowered Caesars Entertainment from a “c-” rating to a “d+” rating in a report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.97.

Shares of Caesars Entertainment stock opened at $13.04 on Friday. Caesars Entertainment has a twelve month low of $5.84 and a twelve month high of $13.13. The firm’s 50-day moving average price is $12.63 and its 200 day moving average price is $11.53. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 7.52. The firm has a market capitalization of $8.88 billion, a PE ratio of -68.63 and a beta of 1.41.

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

In other Caesars Entertainment news, Director Thomas M. Benninger sold 9,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $13.10, for a total value of $117,900.00. Following the transaction, the director now owns 28,960 shares of the company’s stock, valued at $379,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard D. Broome sold 118,668 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.02, for a total transaction of $1,545,057.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,273 shares of company stock worth $1,736,271. Corporate insiders own 0.51% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Icahn Carl C lifted its stake in Caesars Entertainment by 15.1% during the 3rd quarter. Icahn Carl C now owns 114,250,942 shares of the company’s stock worth $1,332,166,000 after acquiring an additional 15,000,000 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Caesars Entertainment during the second quarter worth about $156,095,000. Omni Partners LLP purchased a new stake in Caesars Entertainment during the second quarter worth about $86,908,000. Alpine Associates Management Inc. lifted its position in shares of Caesars Entertainment by 2,876.5% during the second quarter. Alpine Associates Management Inc. now owns 7,227,000 shares of the company’s stock worth $85,423,000 after purchasing an additional 6,984,200 shares in the last quarter. Finally, ARP Americas LP lifted its position in shares of Caesars Entertainment by 6,159.9% during the third quarter. ARP Americas LP now owns 6,174,435 shares of the company’s stock worth $71,994,000 after purchasing an additional 6,075,800 shares in the last quarter.

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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