Caesars Entertainment (NASDAQ:CZR) Hits New 1-Year Low – What’s Next?

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low during trading 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CZR shares. Macquarie decreased their price target on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Thursday, March 6th. Truist Financial reduced their price target on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JMP Securities dropped their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment Stock Down 5.0 %

The company has a market cap of $5.44 billion, a PE ratio of -15.37 and a beta of 2.97. The stock has a 50-day moving average of $32.79 and a 200-day moving average of $36.60. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

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

Institutional Trading of Caesars Entertainment

Large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Caesars Entertainment by 45.8% in the fourth quarter. Wellington Management Group LLP now owns 165,351 shares of the company’s stock worth $5,526,000 after buying an additional 51,946 shares during the period. American Assets Investment Management LLC purchased a new position in shares of Caesars Entertainment in the 4th quarter valued at approximately $318,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Caesars Entertainment in the fourth quarter worth $14,599,000. American Trust lifted its position in Caesars Entertainment by 8.7% during the 4th quarter. American Trust now owns 7,505 shares of the company’s stock valued at $251,000 after acquiring an additional 601 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Caesars Entertainment by 52.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock worth $366,000 after buying an additional 3,764 shares during 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.