Caesars Entertainment (NASDAQ:CZR) Shares Down 4.8% – What’s Next?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price fell 4.8% during mid-day trading on Friday . The company traded as low as $26.82 and last traded at $26.89. 1,253,961 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 4,361,691 shares. The stock had previously closed at $28.25.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CZR. Truist Financial decreased their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Raymond James reduced their price objective on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Finally, Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Caesars Entertainment Stock Down 3.9 %

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 firm has a fifty day simple moving average of $33.47 and a 200-day simple moving average of $37.00. The company has a market capitalization of $5.76 billion, a PE ratio of -16.19 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.81 billion. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of CZR. FIL Ltd bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $28,000. Bogart Wealth LLC increased its holdings in shares of Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after acquiring an additional 800 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at approximately $44,000. Canada Pension Plan Investment Board increased its holdings in shares of Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after acquiring an additional 800 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Caesars Entertainment in the 3rd quarter valued at approximately $68,000. 91.79% of the stock is currently owned by hedge funds and other 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.