Caesars Entertainment (NASDAQ:CZR) Hits New 1-Year Low at $37.87

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low on Thursday . The stock traded as low as $37.87 and last traded at $37.98, with a volume of 235246 shares traded. The stock had previously closed at $38.52.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CZR. Wells Fargo & Company lowered their target price on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th. Barclays decreased their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna decreased their price objective on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Finally, Morgan Stanley upped their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $57.73.

Caesars Entertainment Stock Up 0.6 %

The company has a 50-day moving average of $41.75 and a 200-day moving average of $43.60. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.52 and a beta of 2.81. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Caesars Entertainment, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Caesars Entertainment

In other news, Director Michael E. Pegram acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the acquisition, the director now owns 4,612 shares of the company’s stock, valued at $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Soros Capital Management LLC increased its holdings in shares of Caesars Entertainment by 0.4% in the fourth quarter. Soros Capital Management LLC now owns 47,164 shares of the company’s stock valued at $1,962,000 after purchasing an additional 200 shares during the period. Centaurus Financial Inc. boosted its stake in shares of Caesars Entertainment by 19.3% in the first quarter. Centaurus Financial Inc. now owns 1,412 shares of the company’s stock worth $109,000 after buying an additional 228 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Caesars Entertainment by 2.4% in the first quarter. Panagora Asset Management Inc. now owns 9,874 shares of the company’s stock worth $764,000 after buying an additional 236 shares during the last quarter. Advisor Partners II LLC boosted its stake in shares of Caesars Entertainment by 2.6% in the first quarter. Advisor Partners II LLC now owns 9,414 shares of the company’s stock worth $459,000 after buying an additional 238 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its stake in shares of Caesars Entertainment by 172.8% in the fourth quarter. Aspire Private Capital LLC now owns 401 shares of the company’s stock worth $16,681,600,000 after buying an additional 254 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.