Caesars Entertainment (NASDAQ:CZR) Hits New 52-Week Low at $37.34

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.34 and last traded at $37.92, with a volume of 577096 shares traded. The stock had previously closed at $38.48.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CZR shares. JPMorgan Chase & Co. lowered their target price on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 9th. JMP Securities lowered their target price on shares of Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating on the stock in a research note on Friday, April 19th. Morgan Stanley raised their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com cut Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.36.

Caesars Entertainment Stock Performance

The stock has a market cap of $8.25 billion, a PE ratio of 10.35 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 stock has a 50-day moving average of $41.48 and a 200 day moving average of $43.47.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the business posted ($0.11) EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts predict that Caesars Entertainment, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram bought 15,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently made changes to their positions in CZR. CWM LLC raised its holdings in shares of Caesars Entertainment by 30.6% in the third quarter. CWM LLC now owns 7,718 shares of the company’s stock worth $358,000 after acquiring an additional 1,810 shares during the last quarter. DnB Asset Management AS raised its holdings in shares of Caesars Entertainment by 12.9% in the third quarter. DnB Asset Management AS now owns 29,438 shares of the company’s stock worth $1,364,000 after acquiring an additional 3,355 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in shares of Caesars Entertainment by 22.5% in the third quarter. Meridian Wealth Management LLC now owns 15,617 shares of the company’s stock worth $724,000 after acquiring an additional 2,871 shares during the last quarter. Czech National Bank increased its stake in Caesars Entertainment by 47.6% in the third quarter. Czech National Bank now owns 37,628 shares of the company’s stock valued at $1,744,000 after purchasing an additional 12,142 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Caesars Entertainment by 7.2% in the third quarter. Asset Management One Co. Ltd. now owns 86,041 shares of the company’s stock valued at $3,988,000 after purchasing an additional 5,750 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.