Caesars Entertainment (NASDAQ:CZR) Cut to “Hold” at StockNews.com

Caesars Entertainment (NASDAQ:CZR – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also recently issued reports on CZR. Barclays lifted their price objective on shares of Caesars Entertainment from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Susquehanna raised shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $39.00 in a research note on Thursday. B. Riley raised their target price on shares of Caesars Entertainment from $102.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Caesars Entertainment from $70.00 to $68.00 in a research report on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Caesars Entertainment from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Hold” and an average target price of $66.54.

Caesars Entertainment Stock Performance

Shares of NASDAQ:CZR opened at $41.40 on Friday. The company’s 50 day simple moving average is $44.30 and its 200 day simple moving average is $47.37. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of -24.94 and a beta of 2.89. The company has a debt-to-equity ratio of 7.03, a current ratio of 0.85 and a quick ratio of 0.82. Caesars Entertainment has a 1 year low of $31.31 and a 1 year high of $56.75.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Caesars Entertainment had a negative net margin of 3.13% and a positive return on equity of 2.24%. As a group, research analysts predict that Caesars Entertainment will post 0.94 EPS for the current fiscal year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 25,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were bought at an average price of $45.02 per share, for a total transaction of $1,125,500.00. Following the completion of the acquisition, the director now owns 121,697 shares in the company, valued at $5,478,798.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds have recently modified their holdings of CZR. Toroso Investments LLC boosted its position in Caesars Entertainment by 34.5% during the first quarter. Toroso Investments LLC now owns 16,735 shares of the company’s stock valued at $817,000 after acquiring an additional 4,288 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Caesars Entertainment by 419.0% during the first quarter. Ameriprise Financial Inc. now owns 723,038 shares of the company’s stock valued at $35,291,000 after acquiring an additional 583,711 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Caesars Entertainment by 80.7% during the first quarter. JPMorgan Chase & Co. now owns 428,680 shares of the company’s stock valued at $20,923,000 after acquiring an additional 191,492 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Caesars Entertainment during the first quarter valued at $156,000. Finally, Advisory Services Network LLC boosted its position in Caesars Entertainment by 4.8% during the first quarter. Advisory Services Network LLC now owns 9,119 shares of the company’s stock valued at $445,000 after acquiring an additional 420 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Caesars Entertainment Company Profile

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Caesars Holdings, Inc is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.