Caesars Entertainment (CZR) Rating Increased to Hold at Zacks Investment Research

Caesars Entertainment (NASDAQ:CZR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.

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. “

Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Caesars Entertainment from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. ValuEngine raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Bank of America decreased their target price on shares of Caesars Entertainment from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Credit Suisse Group assumed coverage on shares of Caesars Entertainment in a research report on Tuesday, September 11th. They issued an “outperform” rating and a $13.00 target price for the company. Finally, Jefferies Financial Group set a $11.00 target price on shares of Caesars Entertainment and gave the company a “hold” rating in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.44.

CZR traded down $0.15 during mid-day trading on Monday, hitting $9.55. The stock had a trading volume of 17,324,200 shares, compared to its average volume of 12,192,696. The company has a debt-to-equity ratio of 5.52, a quick ratio of 1.96 and a current ratio of 1.98. The firm has a market cap of $7.11 billion, a PE ratio of -2.83 and a beta of 0.52. Caesars Entertainment has a 1-year low of $8.55 and a 1-year high of $14.50.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Caesars Entertainment had a net margin of 21.90% and a negative return on equity of 4.71%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the business posted ($9.62) earnings per share. The firm’s quarterly revenue was up 110.2% on a year-over-year basis. Equities analysts forecast that Caesars Entertainment will post -0.04 EPS for the current fiscal year.

In related news, insider Mark P. Frissora bought 100,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, August 3rd. The stock was acquired at an average price of $9.55 per share, with a total value of $955,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Eric A. Hession bought 10,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, August 3rd. The shares were bought at an average cost of $9.54 per share, with a total value of $95,400.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 125,000 shares of company stock valued at $1,199,150 in the last ninety days. 0.92% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in CZR. Sawtooth Solutions LLC acquired a new stake in Caesars Entertainment in the 2nd quarter worth about $108,000. Laurel Wealth Advisors Inc. acquired a new stake in Caesars Entertainment in the 1st quarter worth about $118,000. KCM Investment Advisors LLC acquired a new stake in Caesars Entertainment in the 2nd quarter worth about $120,000. IBM Retirement Fund acquired a new stake in Caesars Entertainment in the 2nd quarter worth about $125,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Caesars Entertainment by 309.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 177,460 shares of the company’s stock worth $171,000 after purchasing an additional 134,067 shares in the last quarter.

About Caesars Entertainment

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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