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

Caesars Entertainment, Inc. (NASDAQ:CZR) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $31.66 and last traded at $33.31, with a volume of 1589224 shares trading hands. The stock had previously closed at $33.39.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CZR shares. Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a report on Wednesday, October 30th. JMP Securities dropped 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 note on Monday, November 25th. Stifel Nicolaus increased their target price on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays cut their price objective on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.43.

Caesars Entertainment Stock Down 0.3 %

The company has a market cap of $7.07 billion, a price-to-earnings ratio of -19.93 and a beta of 2.90. The business has a fifty day moving average of $37.11 and a two-hundred day moving average of $38.35. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. As a group, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.56 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in Caesars Entertainment by 26.8% in the 2nd quarter. Natixis Advisors LLC now owns 18,535 shares of the company’s stock worth $737,000 after purchasing an additional 3,921 shares in the last quarter. National Bank of Canada FI raised its stake in Caesars Entertainment by 22.8% during the second quarter. National Bank of Canada FI now owns 58,492 shares of the company’s stock worth $2,208,000 after purchasing an additional 10,874 shares during the period. Victory Capital Management Inc. boosted its holdings in Caesars Entertainment by 12.2% in the 2nd quarter. Victory Capital Management Inc. now owns 818,944 shares of the company’s stock valued at $32,545,000 after purchasing an additional 89,235 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Caesars Entertainment in the 2nd quarter valued at approximately $147,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Caesars Entertainment by 40.5% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 7,721 shares of the company’s stock worth $307,000 after buying an additional 2,227 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.