Caesars Entertainment (NASDAQ:CZR) Downgraded by Zacks Research to “Strong Sell”

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research note on Monday, June 1st. Citizens Jmp increased their price target on Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Finally, Morgan Stanley upped their target price on Caesars Entertainment from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Hold” and a consensus price target of $32.53.

Caesars Entertainment Stock Up 0.8%

Shares of NASDAQ CZR opened at $30.41 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The firm has a market cap of $6.19 billion, a PE ratio of -12.83 and a beta of 1.76. The company’s fifty day simple moving average is $28.60 and its 200 day simple moving average is $25.79. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $31.58.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the firm posted ($0.54) earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Caesars Entertainment will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram sold 16,897 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $29.46, for a total transaction of $497,785.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 293,463 shares of company stock worth $8,609,241 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in Caesars Entertainment during the first quarter worth $201,000. Cyrus Capital Partners L.P. purchased a new stake in Caesars Entertainment in the 1st quarter valued at $37,795,000. Edgestream Partners L.P. bought a new position in Caesars Entertainment during the 1st quarter valued at $2,225,000. Janus Henderson Group PLC lifted its stake in Caesars Entertainment by 5.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,529,700 shares of the company’s stock valued at $172,582,000 after acquiring an additional 355,760 shares in the last quarter. Finally, Amundi boosted its holdings in Caesars Entertainment by 205.1% during the 1st quarter. Amundi now owns 1,587,634 shares of the company’s stock worth $41,961,000 after acquiring an additional 1,067,259 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.