Caesars Entertainment (NASDAQ:CZR) Reaches New 52-Week Low – Here’s Why

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price reached a new 52-week low during trading on Friday . The company 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.

Analyst Ratings Changes

Several brokerages have issued reports on CZR. Wells Fargo & Company dropped their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Raymond James dropped their price objective on shares of Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 19th. Macquarie reduced their target price on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Truist Financial reduced their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Caesars Entertainment Trading Down 5.0 %

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 company’s 50 day moving average price is $32.79 and its two-hundred day moving average price is $36.60. The firm has a market cap of $5.44 billion, a PE ratio of -15.37 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last announced its 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 return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. As a group, sell-side analysts forecast that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. FIL Ltd bought a new stake in Caesars Entertainment during the 4th quarter valued at about $28,000. Bogart Wealth LLC increased its position in shares of Caesars Entertainment by 1,777.8% during the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 800 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at approximately $44,000. Canada Pension Plan Investment Board boosted its holdings in shares of Caesars Entertainment by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares during the period. Finally, Quarry LP bought a new position in Caesars Entertainment in the third quarter worth approximately $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.