Caesars Entertainment (NASDAQ:CZR) Sets New 12-Month Low – What’s Next?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $30.57 and last traded at $30.17, with a volume of 171244 shares changing hands. The stock had previously closed at $31.47.

Analyst Ratings Changes

CZR has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial dropped their target price 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. TD Cowen dropped their target price on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Stifel Nicolaus dropped their target price on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.64.

Caesars Entertainment Price Performance

The company has a 50-day moving average price of $34.69 and a two-hundred day moving average price of $37.84. 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 company has a market cap of $6.25 billion, a PE ratio of -17.71 and a beta of 2.90.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Sell-side analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CZR. Capital Research Global Investors boosted its holdings in Caesars Entertainment by 14.8% in the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock valued at $662,088,000 after purchasing an additional 2,555,876 shares during the last quarter. Norges Bank purchased a new position in Caesars Entertainment in the fourth quarter valued at about $75,058,000. Janus Henderson Group PLC boosted its holdings in Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock valued at $526,309,000 after purchasing an additional 1,983,151 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in Caesars Entertainment by 14.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock valued at $487,265,000 after purchasing an additional 1,882,728 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Caesars Entertainment in the fourth quarter valued at about $57,629,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.