Caesars Entertainment (NASDAQ:CZR) Reaches New 1-Year Low – Here’s What Happened

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 trading hands. The stock had previously closed at $27.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. JMP Securities lowered their price objective on Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Barclays reduced 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. Stifel Nicolaus lowered their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen dropped their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Caesars Entertainment Stock Down 5.0 %

The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The business’s 50-day simple moving average is $32.96 and its 200-day simple moving average is $36.67. The company has a market capitalization of $5.44 billion, a PE ratio of -15.40 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data 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. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. As a group, equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. Vanguard Group Inc. boosted its stake in shares of Caesars Entertainment by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock worth $780,854,000 after buying an additional 100,263 shares during the last quarter. Capital Research Global Investors lifted its holdings in Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after acquiring an additional 2,555,876 shares during the period. Cohen & Steers Inc. boosted its position in Caesars Entertainment by 14.8% in the 4th quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after purchasing an additional 1,882,728 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Caesars Entertainment by 18.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Caesars Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock valued at $185,594,000 after purchasing an additional 1,213,426 shares in the last quarter. Hedge funds and other institutional investors 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.