Caesars Entertainment (NASDAQ:CZR) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Caesars Entertainment received a "sell (e+)" rating from Weiss Ratings, indicating continued concerns about the company's performance.
• Brokerages have varying opinions on the stock: with JPMorgan upgrading its target price to $48, while Zacks Research downgraded it to a "strong sell." The stock currently has a consensus rating of "Moderate Buy."
• Caesars reported a significant loss of ($0.39) EPS for the last quarter, missing estimates, and has a debt-to-equity ratio of 6.08, highlighting financial challenges.

Caesars Entertainment (NASDAQ:CZR - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also issued reports on CZR. JPMorgan Chase & Co. increased their target price on shares of Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Zacks Research lowered shares of Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research note on Monday. Susquehanna lowered their price objective on shares of Caesars Entertainment from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Macquarie lowered their price objective on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Truist Financial decreased their price objective on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.20.

Caesars Entertainment Trading Down 5.2%

CZR traded down $1.27 during trading on Wednesday, reaching $23.38. 11,485,097 shares of the company's stock were exchanged, compared to its average volume of 6,106,615. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $4.86 billion, a PE ratio of -25.41 and a beta of 2.38. The firm has a fifty day moving average price of $25.91 and a two-hundred day moving average price of $27.08.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm earned ($0.56) earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Assenagon Asset Management S.A. raised its holdings in Caesars Entertainment by 371.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 783,506 shares of the company's stock valued at $21,174,000 after buying an additional 617,297 shares during the last quarter. Oak Thistle LLC purchased a new stake in Caesars Entertainment during the 3rd quarter valued at about $967,000. Central Pacific Bank Trust Division grew its position in Caesars Entertainment by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,000 shares of the company's stock valued at $270,000 after purchasing an additional 4,000 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Caesars Entertainment by 24.0% during the 2nd quarter. Osaic Holdings Inc. now owns 28,250 shares of the company's stock valued at $801,000 after acquiring an additional 5,465 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of Caesars Entertainment by 654.5% in the 2nd quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company's stock worth $50,747,000 after purchasing an additional 1,550,589 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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.

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