Caesars Entertainment (NASDAQ:CZR) Stock Rating Lowered by Citigroup
by Teresa Graham · The Cerbat GemCaesars 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 note issued to investors on Wednesday,Zacks.com reports.
Several other research analysts have also commented on CZR. Truist Financial decreased their price target on shares of Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Susquehanna raised shares of Caesars Entertainment from a “neutral” rating to a “positive” rating and lifted their price target for the company from $25.00 to $31.00 in a report on Thursday, January 8th. Jefferies Financial Group lifted their price target on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a report on Monday, April 6th. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.73.
Get Our Latest Research Report on Caesars Entertainment
Caesars Entertainment Price Performance
CZR opened at $27.86 on Wednesday. The company has a 50-day moving average of $24.78 and a 200-day moving average of $23.46. The company has a market capitalization of $5.67 billion, a P/E ratio of -11.46 and a beta of 1.87. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.
Caesars Entertainment (NASDAQ:CZR – Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after buying an additional 510 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock worth $26,000 after acquiring an additional 918 shares during the period. Mather Group LLC. acquired a new stake in shares of Caesars Entertainment in the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. lifted its stake in shares of Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock worth $28,000 after acquiring an additional 672 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in shares of Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after acquiring an additional 488 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.
Caesars Entertainment Company Profile
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.