Caesars Entertainment (NASDAQ:CZR) Hits New 1-Year Low at $37.87

Caesars Entertainment, Inc. (NASDAQ:CZR) hit a new 52-week low during trading on Thursday . The stock traded as low as $37.87 and last traded at $37.98, with a volume of 235246 shares traded. The stock had previously closed at $38.52.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CZR shares. JMP Securities cut their price objective on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a report on Friday. Morgan Stanley boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company cut their price objective on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft cut their price objective on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, StockNews.com lowered Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.73.

Caesars Entertainment Stock Up 0.6 %

The stock has a market cap of $8.26 billion, a P/E ratio of 10.52 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 company has a 50-day simple moving average of $41.75 and a two-hundred day simple moving average of $43.60.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data 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). The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted ($0.11) EPS. On average, equities analysts forecast that Caesars Entertainment, Inc. will post 1.07 EPS for the current year.

Insider Activity

In related news, Director Michael E. Pegram acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the purchase, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Caesars Entertainment by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after acquiring an additional 148,034 shares during the period. BlackRock Inc. lifted its stake in Caesars Entertainment by 3.9% in the first quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock worth $880,465,000 after acquiring an additional 676,512 shares during the period. Capital World Investors lifted its stake in Caesars Entertainment by 9.1% in the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. Point Break Capital Management LLC lifted its stake in Caesars Entertainment by 10.3% in the first quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock worth $821,396,000 after acquiring an additional 987,230 shares during the period. Finally, State Street Corp lifted its stake in Caesars Entertainment by 4.4% in the second quarter. State Street Corp now owns 7,883,415 shares of the company’s stock worth $401,818,000 after acquiring an additional 329,604 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.