Caesars Entertainment (NASDAQ:CZR) Sets New 52-Week Low – What’s Next?

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

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Barclays lowered their price target on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, December 13th. JMP Securities cut 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 report on Monday, November 25th. Macquarie restated an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their target price on Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $52.43.

Caesars Entertainment Stock Performance

The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -19.15 and a beta of 2.89. The company’s 50-day simple moving average is $36.67 and its 200-day simple moving average is $38.26. 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 results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. Analysts predict that Caesars Entertainment, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Huntington National Bank lifted its holdings in shares of Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares during the last quarter. UMB Bank n.a. acquired a new stake in Caesars Entertainment in the third quarter valued at approximately $51,000. Quarry LP bought a new stake in Caesars Entertainment in the third quarter worth approximately $68,000. GAMMA Investing LLC increased its stake in shares of Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after purchasing an additional 403 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares in the last quarter. 91.79% of the stock is owned by hedge funds and other 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.