Caesars Entertainment (NASDAQ:CZR) Downgraded to Hold Rating by Citigroup

Citigroup downgraded shares of Caesars Entertainment (NASDAQ:CZR) from a strong-buy rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on CZR. TD Cowen reissued a “buy” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Morgan Stanley boosted their price target on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Finally, Citizens Jmp lowered their price target on Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 18th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $27.68 on Wednesday. Caesars Entertainment has a 52-week low of $17.86 and a 52-week high of $31.58. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -11.39 and a beta of 1.87. The company has a fifty day moving average of $24.78 and a 200-day moving average of $23.46. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts expect that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of 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 worth $115,500,000 after acquiring an additional 4,937,998 shares in the last quarter. Morgan Stanley grew its position in Caesars Entertainment by 121.0% during the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after purchasing an additional 3,910,430 shares during the last quarter. Capital World Investors grew its position in Caesars Entertainment by 29.8% during the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after purchasing an additional 3,716,148 shares during the last quarter. Norges Bank purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $76,050,000. Finally, MUFG Securities EMEA plc purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $65,492,000. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

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.