Caesars Entertainment (NASDAQ:CZR) Sets New 12-Month Low – What’s Next?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $30.57 and last traded at $30.17, with a volume of 171244 shares. The stock had previously closed at $31.47.

Analyst Ratings Changes

A number of research firms have commented on CZR. Wells Fargo & Company reduced their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group reduced their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. TD Cowen reduced their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Barclays reduced their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.64.

Caesars Entertainment Trading Down 6.3 %

The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -17.71 and a beta of 2.90. The firm has a 50-day moving average of $34.69 and a 200 day moving average of $37.84. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. As a group, equities analysts predict that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several large investors have recently modified their holdings of CZR. Bogart Wealth LLC boosted its stake in shares of Caesars Entertainment by 1,777.8% during the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares in the last quarter. FIL Ltd acquired a new stake in shares of Caesars Entertainment in the fourth quarter worth $28,000. Huntington National Bank raised its holdings in shares of Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after acquiring an additional 833 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth $44,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Caesars Entertainment by 100.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after acquiring an additional 800 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

About Caesars Entertainment

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.