Caesars Entertainment (NASDAQ:CZR) Downgraded to Hold Rating by Capital One Financial

Key Points

• Capital One Financial downgraded Caesars Entertainment from “strong-buy” to “hold,” adding to a broader trend of cautious analyst sentiment on the stock.
• The current analyst consensus on CZR is also Hold, with 3 Buy ratings, 15 Hold ratings, and 1 Sell rating, and a consensus price target of $31.00.
• Caesars recently reported mixed quarterly results, missing EPS estimates while slightly beating revenue expectations; the company also continues to show weak profitability and elevated debt levels.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) was downgraded by stock analysts at Capital One Financial from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. Raymond James Financial lowered Caesars Entertainment from a "strong-buy" rating to a "market perform" rating in a report on Friday, May 29th. Zacks Research upgraded shares of Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Citizens Jmp boosted their target price on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 29th. Finally, Texas Capital lowered shares of Caesars Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.00.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $29.90 on Thursday. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $30.88. The firm has a market capitalization of $6.09 billion, a PE ratio of -12.62 and a beta of 1.76. The company's 50 day simple moving average is $29.39 and its 200 day simple moving average is $26.45. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.54) earnings per share. As a group, equities research analysts forecast that Caesars Entertainment will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In related 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 value of $497,785.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 81,566 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the completion of the sale, the insider owned 18,263 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently bought and sold shares of CZR. Caitong International Asset Management Co. Ltd lifted its position in shares of Caesars Entertainment by 456.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after buying an additional 918 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after purchasing an additional 672 shares during the period. CoreCap Advisors LLC raised its position in shares of Caesars Entertainment by 44.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock valued at $37,000 after purchasing an additional 488 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Caesars Entertainment by 87.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,817 shares of the company's stock worth $42,000 after buying an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Caesars Entertainment by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,882 shares of the company's stock worth $50,000 after buying an additional 702 shares during the period. 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.

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