Caesars Entertainment (NASDAQ:CZR – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
A number of other research analysts also recently weighed in on the stock. TD Cowen downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research report on Wednesday, July 29th. Raymond James Financial cut shares of Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 29th. Stifel Nicolaus downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Monday, June 15th. Capital One Financial cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company lifted their target price on Caesars Entertainment from $26.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment has an average rating of “Hold” and an average target price of $30.71.
View Our Latest Analysis on CZR
Caesars Entertainment Trading Down 0.1%
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.35). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.98 billion. Caesars Entertainment had a negative net margin of 3.99% and a negative return on equity of 7.64%. Caesars Entertainment’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.39) earnings per share. As a group, analysts expect that Caesars Entertainment will post -0.9 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 18,263 shares in the company, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Pegram sold 55,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $1,606,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 352,970 shares of company stock worth $10,377,789. Insiders own 1.18% of the company’s stock.
Institutional Trading of Caesars Entertainment
A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in shares of Caesars Entertainment in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised 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 valued at $26,000 after purchasing an additional 918 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Caesars Entertainment by 181.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after buying an additional 672 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Caesars Entertainment by 87.1% during the 4th 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 period. 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 owned by institutional investors and hedge funds.
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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