Caesars Entertainment (NASDAQ:CZR) Sets New 1-Year Low at $37.34

Caesars Entertainment, Inc. (NASDAQ:CZR) shares hit a new 52-week low on Thursday . The company traded as low as $37.34 and last traded at $37.92, with a volume of 577096 shares changing hands. The stock had previously closed at $38.48.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CZR shares. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. JPMorgan Chase & Co. dropped their price target on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 9th. 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 report on Tuesday, April 9th. StockNews.com lowered Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Finally, Susquehanna reduced their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.36.

Caesars Entertainment Stock Performance

The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 10.09 and a beta of 2.81. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59. The stock’s fifty day moving average is $41.37 and its two-hundred day moving average is $43.44.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts predict that Caesars Entertainment, Inc. will post 1.02 earnings per share for the current year.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram bought 15,000 shares of the firm’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC boosted its stake in Caesars Entertainment by 30.6% in the 3rd quarter. CWM LLC now owns 7,718 shares of the company’s stock valued at $358,000 after purchasing an additional 1,810 shares during the period. Czech National Bank boosted its position in shares of Caesars Entertainment by 47.6% in the third quarter. Czech National Bank now owns 37,628 shares of the company’s stock valued at $1,744,000 after acquiring an additional 12,142 shares during the period. Asset Management One Co. Ltd. increased its position in Caesars Entertainment by 7.2% during the third quarter. Asset Management One Co. Ltd. now owns 86,041 shares of the company’s stock worth $3,988,000 after acquiring an additional 5,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Caesars Entertainment by 24.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,896 shares of the company’s stock worth $3,054,000 after acquiring an additional 12,800 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new stake in Caesars Entertainment in the 3rd quarter valued at about $373,000. 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.