Caesars Entertainment (NASDAQ:CZR – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports. They currently have a $72.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 6.43% from the company’s previous close.
According to Zacks, “Although shares of Caesars Entertainment have underperformed the industry in the past three months, the strong performance of the regional destination properties and improvement in occupancy levels are likely to benefit the company in the upcoming periods. The company reported fourth-quarter 2021 results, wherein earnings missed the Zacks Consensus Estimate, but revenues beat the same. Also, focus on partnerships and property development bodes well. Going forward, the company remains optimistic about booking trends as it is witnessing increasing bookings for group and convention room nights. However, coronavirus-related woes persist. Due to the uncertainty of the crisis, the company suspended its share repurchase program until further notice. Earnings estimates for 2022 have declined in the past 30 days.”
Several other equities analysts have also recently weighed in on the stock. Truist Financial cut their target price on shares of Caesars Entertainment from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Cowen dropped their price objective on shares of Caesars Entertainment from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Caesars Entertainment from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, April 4th. Finally, B. Riley decreased their price objective on shares of Caesars Entertainment from $191.00 to $183.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $117.47.
Shares of CZR stock traded up $1.05 on Monday, hitting $67.65. 88,884 shares of the stock traded hands, compared to its average volume of 2,938,210. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of -13.96 and a beta of 2.87. Caesars Entertainment has a 52 week low of $65.11 and a 52 week high of $119.81. The firm has a 50 day simple moving average of $76.56 and a two-hundred day simple moving average of $87.69. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.13 and a quick ratio of 1.12.
Caesars Entertainment (NASDAQ:CZR – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by ($0.33). The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. Caesars Entertainment had a negative net margin of 10.74% and a negative return on equity of 16.61%. The firm’s revenue for the quarter was up 72.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.70) earnings per share. Sell-side analysts forecast that Caesars Entertainment will post -1.41 EPS for the current year.
In other news, insider Edmund L. Quatmann, Jr. sold 5,871 shares of the firm’s stock in a transaction dated Wednesday, January 26th. The shares were sold at an average price of $79.43, for a total value of $466,333.53. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 1,482 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $80.46, for a total transaction of $119,241.72. The disclosure for this sale can be found here. Insiders have sold 8,109 shares of company stock valued at $645,511 over the last 90 days. 0.55% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CZR. Sageworth Trust Co of South Dakota acquired a new stake in shares of Caesars Entertainment during the fourth quarter valued at about $25,000. NEXT Financial Group Inc boosted its holdings in shares of Caesars Entertainment by 75.3% in the 4th quarter. NEXT Financial Group Inc now owns 326 shares of the company’s stock valued at $30,000 after buying an additional 140 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $56,000. FSB Premier Wealth Management Inc. acquired a new stake in Caesars Entertainment during the 4th quarter worth $59,000. Finally, Allegheny Financial Group LTD purchased a new position in Caesars Entertainment during the 4th quarter worth $70,000. Hedge funds and other institutional investors own 93.55% of the company’s stock.
Caesars Entertainment Company Profile
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.