Caesars Entertainment (NASDAQ:CZR) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Macquarie lowered their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Truist Financial cut their price target 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. Jefferies Financial Group lowered their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, TD Cowen cut their target price on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Caesars Entertainment Trading Down 8.3 %

The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market cap of $5.11 billion, a P/E ratio of -14.43 and a beta of 2.97. The stock’s 50-day moving average is $32.27 and its two-hundred day moving average is $36.35.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Equities research analysts anticipate that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in Caesars Entertainment by 45.8% in the fourth quarter. Wellington Management Group LLP now owns 165,351 shares of the company’s stock worth $5,526,000 after purchasing an additional 51,946 shares during the last quarter. American Assets Investment Management LLC bought a new stake in shares of Caesars Entertainment in the 4th quarter worth about $318,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Caesars Entertainment during the 4th quarter valued at about $14,599,000. American Trust lifted its holdings in shares of Caesars Entertainment by 8.7% in the 4th quarter. American Trust now owns 7,505 shares of the company’s stock valued at $251,000 after acquiring an additional 601 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Caesars Entertainment by 52.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,959 shares of the company’s stock valued at $366,000 after purchasing an additional 3,764 shares during the period. 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.