Caesars Entertainment (NASDAQ:CZR) Shares Down 4.8% – What’s Next?

Caesars Entertainment, Inc. (NASDAQ:CZR) traded down 4.8% on Friday . The company traded as low as $26.82 and last traded at $26.89. 1,253,961 shares were traded during mid-day trading, a decline of 71% from the average session volume of 4,361,691 shares. The stock had previously closed at $28.25.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JMP Securities reduced their price objective on 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. TD Cowen reduced their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Truist Financial reduced their price objective on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Susquehanna upgraded Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 price objective for the company in a research report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price objective on 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 equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Caesars Entertainment Stock Performance

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 firm has a market cap of $5.76 billion, a price-to-earnings ratio of -16.19 and a beta of 2.97. The company has a fifty day moving average price of $33.47 and a two-hundred day moving average price of $37.00.

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

Institutional Trading of Caesars Entertainment

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Caesars Entertainment by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company’s stock valued at $780,854,000 after buying an additional 100,263 shares during the period. Capital Research Global Investors raised its position in shares of Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company’s stock worth $662,088,000 after purchasing an additional 2,555,876 shares during the period. Cohen & Steers Inc. raised its position in shares of Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company’s stock worth $487,265,000 after purchasing an additional 1,882,728 shares during the period. Janus Henderson Group PLC raised its position in shares of Caesars Entertainment by 18.7% during the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the period. Finally, Invesco Ltd. raised its position in shares of Caesars Entertainment by 28.0% during the fourth quarter. Invesco Ltd. now owns 5,553,375 shares of the company’s stock worth $185,594,000 after purchasing an additional 1,213,426 shares during the period. Institutional investors and hedge funds 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.