Caesars Entertainment (NASDAQ:CZR) Hits New 12-Month Low – Here’s Why

Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low on Friday . The stock traded as low as $25.94 and last traded at $25.93, with a volume of 1408830 shares traded. The stock had previously closed at $27.01.

Analyst Ratings Changes

CZR has been the topic of a number of recent research reports. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Macquarie lowered their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Caesars Entertainment Stock Down 5.0 %

The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The company has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $36.67. The firm has a market capitalization of $5.44 billion, a PE ratio of -15.40 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after buying an additional 2,555,876 shares during the period. Norges Bank purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth $75,058,000. Janus Henderson Group PLC lifted its stake in shares of Caesars Entertainment by 18.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Cohen & Steers Inc. boosted its position in Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after purchasing an additional 1,882,728 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Caesars Entertainment in the fourth quarter valued at about $57,629,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.