Caesars Entertainment (NASDAQ:CZR) Hits New 52-Week Low – Here’s What Happened

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low during trading on Thursday . The company traded as low as $23.47 and last traded at $23.96, with a volume of 3844883 shares. The stock had previously closed at $26.27.

Analyst Ratings Changes

A number of analysts have recently issued reports on CZR shares. Truist Financial dropped their target price on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group dropped their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Barclays cut their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. TD Cowen decreased their price target on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Caesars Entertainment Trading Down 2.5 %

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’s 50 day moving average is $31.83 and its two-hundred day moving average is $36.15. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -13.88 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 for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Equities analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Several hedge funds have recently bought and sold shares of CZR. Cerity Partners LLC increased its stake in shares of Caesars Entertainment by 65.8% in the third quarter. Cerity Partners LLC now owns 18,237 shares of the company’s stock valued at $761,000 after purchasing an additional 7,235 shares during the period. Townsquare Capital LLC raised its stake in Caesars Entertainment by 11.3% during the 3rd quarter. Townsquare Capital LLC now owns 8,001 shares of the company’s stock valued at $334,000 after acquiring an additional 814 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in Caesars Entertainment during the 3rd quarter worth $258,000. Public Sector Pension Investment Board grew its stake in shares of Caesars Entertainment by 362.5% in the third quarter. Public Sector Pension Investment Board now owns 37,766 shares of the company’s stock worth $1,576,000 after purchasing an additional 29,600 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Caesars Entertainment by 3.7% during the third quarter. Captrust Financial Advisors now owns 20,038 shares of the company’s stock valued at $836,000 after purchasing an additional 720 shares during the period. 91.79% of the stock is currently owned by 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.