Caesars Entertainment (NASDAQ:CZR) Reaches New 52-Week Low - Here's Why

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $31.66 and last traded at $33.31, with a volume of 1589224 shares changing hands. The stock had previously closed at $33.39.

Analyst Upgrades and Downgrades

CZR has been the topic of a number of research reports. Stifel Nicolaus upped their price target on Caesars Entertainment from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. JMP Securities dropped their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a "market outperform" rating for the company in a report on Monday, November 25th. Jefferies Financial Group reduced their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a "buy" rating on the stock in a report on Friday. Morgan Stanley raised their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Finally, Barclays cut their price objective on Caesars Entertainment from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.43.

Caesars Entertainment Trading Down 1.0 %

The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of -19.79 and a beta of 2.90. The business has a 50 day simple moving average of $37.11 and a 200-day simple moving average of $38.35.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the company. Huntington National Bank increased its position in Caesars Entertainment by 3,203.8% during the 3rd quarter. Huntington National Bank now owns 859 shares of the company's stock worth $36,000 after purchasing an additional 833 shares in the last quarter. UMB Bank n.a. acquired a new stake in Caesars Entertainment in the 3rd quarter valued at $51,000. Quarry LP purchased a new position in Caesars Entertainment in the third quarter valued at about $68,000. GAMMA Investing LLC lifted its stake in shares of Caesars Entertainment by 25.1% during the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company's stock worth $84,000 after purchasing an additional 403 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company's stock worth $116,000 after buying an additional 248 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.