Caesars Entertainment (NASDAQ:CZR) Stock Rating Lowered by Wall Street Zen

Caesars Entertainment (NASDAQ:CZR) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities analysts also recently issued reports on the company. Morgan Stanley reduced their price objective on Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Macquarie reduced their price objective on Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Truist Financial reduced their price objective on Caesars Entertainment from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group reduced their price objective on Caesars Entertainment from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Barclays cut their target price on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $20.10 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. The business has a 50 day moving average of $24.63 and a two-hundred day moving average of $26.63. Caesars Entertainment has a 52 week low of $18.25 and a 52 week high of $41.77. The company has a market cap of $4.10 billion, a P/E ratio of -17.48 and a beta of 2.32.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s revenue was down .2% on a year-over-year basis. As a group, analysts anticipate that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CZR. Norges Bank bought a new position in shares of Caesars Entertainment in the second quarter valued at $79,604,000. Hein Park Capital Management LP bought a new position in shares of Caesars Entertainment in the first quarter valued at $60,492,000. HG Vora Capital Management LLC increased its holdings in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after buying an additional 1,650,000 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of Caesars Entertainment by 654.5% in the second quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock valued at $50,747,000 after buying an additional 1,550,589 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new position in shares of Caesars Entertainment in the first quarter valued at $38,711,000. Institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

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.