Caesars Entertainment (NASDAQ:CZR) Reaches New 12-Month Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CZR shares. Macquarie reduced their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $51.00 to $47.00 in a research report on Thursday. Barclays cut their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus dropped their target price 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, JPMorgan Chase & Co. cut their target price on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Caesars Entertainment Stock Down 8.3 %

The company has a 50 day moving average price of $32.27 and a 200-day moving average price of $36.35. The stock has a market capitalization of $5.11 billion, a PE ratio of -14.43 and a beta of 2.97. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Caesars Entertainment (NASDAQ:CZR) last posted its 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. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. As a group, analysts forecast that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors increased its position in Caesars Entertainment by 14.8% during the 4th quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after buying an additional 2,555,876 shares in the last quarter. Norges Bank bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $75,058,000. Cohen & Steers Inc. raised its position in shares of 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 during the last quarter. BNP Paribas Financial Markets bought a new position in Caesars Entertainment in the 4th quarter worth about $57,629,000. Finally, Assenagon Asset Management S.A. grew its position in Caesars Entertainment by 383.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after purchasing an additional 1,697,443 shares during 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.