Caesars Entertainment (NASDAQ:CZR) cut to “hold” on StockNews.com

Caesars Entertainment (NASDAQ:CZR – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note released Friday to investors.

Several other brokerages have also recently published reports on CZR. Deutsche Bank Aktiengesellschaft lowered its price target on Caesars Entertainment from $70.00 to $68.00 in a Wednesday, May 3 research report. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and raised its target price for the stock from $27.00 to $39.00 in a report released Thursday. Morgan Stanley raised its price target on Caesars Entertainment from $52.00 to $57.00 and gave the stock an “equal weight” rating in a Wednesday, March 1, report. B. Riley raised his price target on Caesars Entertainment from $102.00 to $111.00 and gave the stock a “buy” rating in a Tuesday, February 21 report. Finally, JPMorgan Chase & Co. raised its price target on Caesars Entertainment from $67.00 to $69.00 and gave the stock an “overweight” rating in a Wednesday, February 22 report. One research analyst rated the stock with a sell rating, five gave the stock a hold rating, and six gave the stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.54.

Caesars Entertainment shares fall 0.7%

CZR opened at $41.40 on Friday. Caesars Entertainment has a 12-month low of $31.31 and a 12-month high of $56.75. The company has a debt ratio of 7.03, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $8.91 billion, a P/E ratio of -24.94 and a beta of 2.89. The stock’s 50-day moving average price is $44.30 and its 200-day moving average price is $47.37.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last released its quarterly results on Tuesday, February 21. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Caesars Entertainment posted a positive return on equity of 2.24% and a negative net margin of 3.13%. The company posted revenue of $2.82 billion for the quarter, versus $2.82 billion expected by analysts. As a group, research analysts predict Caesars Entertainment will post earnings per share of 0.94 for the current year.

Insider Trading at Caesars Entertainment

In other Caesars Entertainment news, manager Michael E. Pegram acquired 25,000 shares of the company in a transaction dated Friday, May 5. The shares were acquired at an average cost of $45.02 per share, for a total transaction of $1,125,500.00. Following the completion of the purchase, the director now owns 121,697 shares of the company, valued at approximately $5,478,798.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. 0.50% of the shares are currently held by company insiders.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their holdings in the company. Hexagon Capital Partners LLC increased its stake in Caesars Entertainment by 5,000.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 510 shares of the company worth $25,000 after purchasing an additional 500 shares in the last quarter. Elequin Securities LLC acquired a new position in Caesars Entertainment during Q4 worth $32,000. Global Retirement Partners LLC increased its stake in Caesars Entertainment by 76.1% during the third quarter. Global Retirement Partners LLC now owns 805 shares of the company worth $35,000 after buying 348 additional shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Caesars Entertainment during Q1 worth $37,000. Finally, Garda Capital Partners LP purchased a new equity stake in Caesars Entertainment during Q1 for $37,000. 93.88% of the shares are held by institutional investors and hedge funds.

Caesars Entertainment Company Profile (Get Rating)

Caesars Holdings, Inc is a holding company that provides casino and hospitality entertainment services. It operates through the following segments: Las Vegas, Other US and All Others. The All Others segment includes managed and international properties as well as other businesses, such as Caesars Interactive Entertainment.

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