Caesars Entertainment (NASDAQ:CZR) Sets New 1-Year Low – Time to Sell?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price hit a new 52-week low on Monday . The company traded as low as $26.84 and last traded at $26.96, with a volume of 2894959 shares traded. The stock had previously closed at $28.48.

Analyst Ratings Changes

A number of research firms recently weighed in on CZR. Jefferies Financial Group reduced their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Susquehanna raised Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective on the stock in a report on Thursday, March 6th. JMP Securities cut their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Truist Financial lowered their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Stifel Nicolaus reduced their price target on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.43.

Caesars Entertainment Trading Down 1.9 %

The firm has a market cap of $5.79 billion, a P/E ratio of -16.36 and a beta of 2.97. The stock has a fifty day simple moving average of $34.15 and a 200 day simple moving average of $37.46. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of CZR. Villere ST Denis J & Co. LLC grew its position in shares of Caesars Entertainment by 6.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock valued at $26,877,000 after purchasing an additional 47,294 shares in the last quarter. Guyasuta Investment Advisors Inc. purchased a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $385,000. Wellington Management Group LLP grew its position in shares of Caesars Entertainment by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock worth $4,734,000 after buying an additional 4,840 shares in the last quarter. Key Colony Management LLC bought a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $6,350,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Caesars Entertainment by 40.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,550 shares of the company’s stock worth $779,000 after buying an additional 6,778 shares during the period. 91.79% of the stock is owned by institutional investors.

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.