Caesars Entertainment (NASDAQ:CZR) Hits New 52-Week Low – Here’s Why

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low on Tuesday . The stock traded as low as $31.66 and last traded at $33.31, with a volume of 1589224 shares traded. The stock had previously closed at $33.39.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CZR shares. Macquarie reiterated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a report on Wednesday, October 30th. JMP Securities reduced their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group decreased their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday. Finally, Morgan Stanley lifted their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.43.

Caesars Entertainment Trading Down 0.3 %

The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of -19.93 and a beta of 2.90. The company has a fifty day moving average of $37.11 and a two-hundred day moving average of $38.35.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, research analysts expect that Caesars Entertainment, Inc. will post -0.56 EPS for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. Assetmark Inc. boosted its stake in shares of Caesars Entertainment by 8.0% during the 3rd quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after acquiring an additional 256 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Caesars Entertainment by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after acquiring an additional 317 shares during the period. GAMMA Investing LLC grew its holdings in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after acquiring an additional 403 shares during the period. Finally, Fiduciary Family Office LLC increased its stake in Caesars Entertainment by 1.7% in the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after purchasing an additional 424 shares in the last quarter. 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.