Zacks Investment Research Lowers Caesars Entertainment (NASDAQ:CZR) to Hold

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Caesars Entertainment (NASDAQ:CZR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Caesars Entertainment Corporation is a gaming company engaged in providing casino entertainment services. The Company operates casino resorts on multiple continents and its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities. Its resorts operate primarily under the Harrah’s(TM), Caesars(TM) and Horseshoe(TM) brand names. Caesars Entertainment Corporation is based in Las Vegas, Nevada. “

A number of other research analysts have also commented on CZR. Nomura increased their price objective on TJX Companies from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Deutsche Bank reissued a “buy” rating and set a $22.00 price objective on shares of Extended Stay America in a report on Sunday, May 5th. BidaskClub lowered Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. SunTrust Banks lowered Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price objective on the stock. in a report on Tuesday, June 25th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.88.

Caesars Entertainment stock traded down $0.06 during mid-day trading on Friday, hitting $11.80. The company’s stock had a trading volume of 7,329,300 shares, compared to its average volume of 25,683,545. The stock’s 50 day moving average is $10.77. The firm has a market cap of $7.98 billion, a P/E ratio of -62.11 and a beta of 1.43. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 6.02. Caesars Entertainment has a 52-week low of $5.84 and a 52-week high of $12.23.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13). Caesars Entertainment had a negative return on equity of 9.84% and a net margin of 1.41%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Caesars Entertainment will post -0.45 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oaktree Capital Management LP bought a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $67,900,000. First Trust Advisors LP lifted its position in shares of Caesars Entertainment by 44.7% in the 1st quarter. First Trust Advisors LP now owns 637,174 shares of the company’s stock worth $5,537,000 after acquiring an additional 196,890 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $4,753,000. Principal Financial Group Inc. bought a new stake in shares of Caesars Entertainment in the 4th quarter worth approximately $232,000. Finally, Jabodon PT Co. bought a new stake in shares of Caesars Entertainment in the 1st quarter worth approximately $4,270,000.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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