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

Caesars Entertainment, Inc. (NASDAQ:CZR) shares reached a new 52-week low on Monday . The stock traded as low as $26.84 and last traded at $26.96, with a volume of 2894959 shares traded. The stock had previously closed at $28.48.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen dropped their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Macquarie cut their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Barclays decreased their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their price objective on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.43.

Caesars Entertainment Trading Down 4.3 %

The business has a 50-day moving average price of $34.37 and a 200-day moving average price of $37.60. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $5.78 billion, a P/E ratio of -16.32 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last announced 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 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 analyst estimates of $2.81 billion. Analysts anticipate that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its holdings in Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after purchasing an additional 256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Caesars Entertainment by 1.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after buying an additional 408 shares during the period. Arizona State Retirement System boosted its stake in Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock valued at $2,098,000 after buying an additional 470 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Caesars Entertainment by 6.1% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock valued at $291,000 after acquiring an additional 500 shares during the period. Finally, Contrarian Capital Management L.L.C. raised its stake in Caesars Entertainment by 0.4% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock worth $3,944,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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.