Caesars Entertainment (NASDAQ:CZR) Trading Down 4.5% – Here’s What Happened

Caesars Entertainment, Inc. (NASDAQ:CZR) shares fell 4.5% on Tuesday . The company traded as low as $37.14 and last traded at $37.26. 936,214 shares were traded during mid-day trading, a decline of 77% from the average session volume of 4,098,597 shares. The stock had previously closed at $39.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities lowered their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Morgan Stanley increased their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. StockNews.com upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays cut their price target on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.86.

Caesars Entertainment Stock Performance

The stock has a market cap of $7.98 billion, a P/E ratio of -23.36 and a beta of 2.89. The stock has a fifty day simple moving average of $41.38 and a 200-day simple moving average of $38.45. 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 released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Caesars Entertainment’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts expect that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock valued at $26,000 after buying an additional 499 shares during the last quarter. Huntington National Bank increased its stake 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 purchasing an additional 833 shares during the period. UMB Bank n.a. acquired a new stake in Caesars Entertainment during the 3rd quarter worth approximately $51,000. GAMMA Investing LLC grew its holdings in Caesars Entertainment by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after buying an additional 622 shares in the last quarter. Finally, Quarry LP bought a new position in Caesars Entertainment during the 3rd quarter worth $68,000. 91.79% of the stock is currently 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.