Caesars Entertainment (NASDAQ:CZR) Hits New 52-Week Low After Analyst Downgrade

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low on Wednesday after JMP Securities lowered their price target on the stock from $62.00 to $60.00. JMP Securities currently has a market outperform rating on the stock. Caesars Entertainment traded as low as $35.12 and last traded at $36.36, with a volume of 1481037 shares. The stock had previously closed at $35.82.

A number of other equities analysts also recently issued reports on CZR. Barclays cut their price target on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, April 19th. TD Cowen reduced their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Susquehanna lowered their price target on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Truist Financial reduced their price objective on Caesars Entertainment from $58.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $53.83.

Insider Buying and Selling at Caesars Entertainment

In other 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 purchased at an average price of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the transaction, the director now owns 4,612 shares in the company, valued at $191,167.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by insiders.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Caesars Entertainment during the 3rd quarter valued at $32,000. Altshuler Shaham Ltd acquired a new position in Caesars Entertainment in the fourth quarter valued at $45,000. Principal Securities Inc. purchased a new stake in Caesars Entertainment during the fourth quarter valued at about $46,000. Mather Group LLC. acquired a new stake in Caesars Entertainment during the first quarter worth about $53,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock worth $54,000 after purchasing an additional 1,146 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Stock Down 3.4 %

The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 10.09 and a beta of 2.83. The firm has a 50 day moving average price of $40.92 and a two-hundred day moving average price of $43.20.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a net margin of 6.68% and a return on equity of 1.26%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the firm earned ($0.11) earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts expect that Caesars Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

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.