NEW YORK (TheStreet) -- Shares of Caesars Entertainment fell 11.14% to $10.71 in morning trading Monday after the company's bankrupt operating division asked a judge for more time to file its reorganization plan to work its way out of approximately $18 billion in debt. Lawyers for the casino giant's operating division filed a motion last week to request that a bankruptcy judge in Chicago permit the company six more months to file a plan. Caesars Entertainment Operating Co. currently has until May 15 to file the plan, but it asked for an extension based on the case's complexity (it involves 173 business entities), dueling creditor groups, legal hurdles, and a pending investigation from the court-appointed examiner who is researching the company's past transactions, according to the Associated Press. Caesars has asked for an extension to November 15 to file the plan, which would give creditors until January 2016 to act, the AP added. Separately, TheStreet Ratings team rates CAESARS ENTERTAINMENT CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate CAESARS ENTERTAINMENT CORP (CZR) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself." Highlights from the analysis by TheStreet Ratings Team goes as follows: Net operating cash flow has significantly decreased to -$314.50 million or 189.86% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower. CZR's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 32.58%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now. 48.76% is the gross profit margin for CAESARS ENTERTAINMENT CORP which we consider to be strong. Regardless of CZR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, CZR's net profit margin of -47.96% significantly underperformed when compared to the industry average. CAESARS ENTERTAINMENT CORP has improved earnings per share by 41.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, CAESARS ENTERTAINMENT CORP continued to lose money by earning -$18.17 versus -$20.73 in the prior year. This year, the market expects an improvement in earnings (-$5.43 versus -$18.17). The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Hotels, Restaurants & Leisure industry. The net income increased by 41.8% when compared to the same quarter one year prior, rising from -$1,756.70 million to -$1,022.00 million. You can view the full analysis from the report here: CZR Ratings Report Must Read: Warren Buffett's Top 25 Stocks for 2015
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