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

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CZR shares. Macquarie reissued an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Finally, JMP Securities lowered their price target on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.43.

Caesars Entertainment Stock Down 3.2 %

The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -19.15 and a beta of 2.89. 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 business has a 50 day moving average of $36.67 and a 200 day moving average of $38.26.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $0.34 earnings per share. Caesars Entertainment’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that Caesars Entertainment, Inc. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in 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 acquiring an additional 1,983,151 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after buying an additional 60,184 shares in the last quarter. Helikon Investments Ltd raised its holdings in shares of Caesars Entertainment by 67.1% in the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock valued at $66,264,000 after buying an additional 637,303 shares during the last quarter. Bamco Inc. NY acquired a new position in Caesars Entertainment during the 3rd quarter worth about $61,890,000. Finally, Principal Financial Group Inc. grew its holdings in Caesars Entertainment by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after acquiring an additional 59,170 shares during the last quarter. 91.79% of the stock is currently 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.