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

Key Points

• Citigroup downgraded Caesars Entertainment from a "strong-buy" to a "hold" rating in a research note published Wednesday.
• Caesars reported a quarterly EPS of ($1.23), missing estimates by $1.05 while revenue of $2.92 billion slightly beat consensus; the company posted a negative net margin (-4.37%) and negative ROE (-7.97%).
• Analyst sentiment is mixed — nine Buys, seven Holds and one Sell — giving Caesars an average rating of "Hold" and a consensus price target of $32.73 (stock opened at $27.68, market cap ~$5.63B).

Caesars Entertainment (NASDAQ:CZR - Get Free Report) was downgraded by investment analysts at Citigroup from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on CZR. Stifel Nicolaus lowered their price objective on Caesars Entertainment from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Truist Financial lowered their price objective on Caesars Entertainment from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Jefferies Financial Group raised their price objective on Caesars Entertainment from $24.00 to $26.00 and gave the company a "hold" rating in a research note on Monday, April 6th. Citizens Jmp decreased their price target on Caesars Entertainment from $37.00 to $34.00 and set a "market outperform" rating for the company in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company boosted their price objective on Caesars Entertainment from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Caesars Entertainment has an average rating of "Hold" and a consensus target price of $32.73.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $27.68 on Wednesday. The stock has a market capitalization of $5.63 billion, a PE ratio of -11.39 and a beta of 1.87. The business has a 50 day simple moving average of $24.78 and a two-hundred day simple moving average of $23.46. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The company had revenue of $2.92 billion during 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%. Caesars Entertainment's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. On average, research analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Capital Advisors Ltd. LLC raised its position in shares of Caesars Entertainment by 1,704,257.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 443,133 shares of the company's stock worth $11,712,000 after acquiring an additional 443,107 shares in the last quarter. Invesco Ltd. grew its stake in Caesars Entertainment by 12.8% during the 4th quarter. Invesco Ltd. now owns 995,208 shares of the company's stock valued at $23,278,000 after purchasing an additional 112,691 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $1,696,000. Mercer Global Advisors Inc. ADV purchased a new stake in Caesars Entertainment during the 4th quarter valued at about $484,000. Finally, State of Tennessee Department of Treasury grew its stake in Caesars Entertainment by 125.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,824 shares of the company's stock valued at $1,282,000 after purchasing an additional 30,536 shares during the last quarter. 91.79% of the stock is 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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