Caesars Entertainment (NASDAQ:CZR) Reaches New 1-Year Low After Analyst Downgrade

Caesars Entertainment, Inc. (NASDAQ:CZR - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $67.00 to $54.00. Wells Fargo & Company currently has an overweight rating on the stock. Caesars Entertainment traded as low as $35.12 and last traded at $36.36, with a volume of 1481037 shares changing hands. The stock had previously closed at $35.82.

Several other brokerages also recently commented on CZR. Morgan Stanley upped their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. JMP Securities lowered their target price on Caesars Entertainment from $65.00 to $62.00 and set a "market outperform" rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their target price on Caesars Entertainment from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, January 9th. Susquehanna lowered their target price on Caesars Entertainment from $49.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, February 21st. Finally, Stifel Nicolaus lowered their target price on Caesars Entertainment from $67.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Caesars Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Insider Buying and Selling

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in Caesars Entertainment by 26.4% in the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company's stock valued at $2,057,000 after buying an additional 9,270 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Caesars Entertainment by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company's stock valued at $95,144,000 after purchasing an additional 77,595 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Caesars Entertainment in the third quarter valued at about $2,259,000. Strs Ohio increased its holdings in shares of Caesars Entertainment by 33.2% in the fourth quarter. Strs Ohio now owns 676,706 shares of the company's stock valued at $31,723,000 after purchasing an additional 168,738 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Caesars Entertainment by 1,029.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company's stock valued at $11,998,000 after purchasing an additional 233,271 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Stock Up 1.6 %

The business has a fifty day moving average price of $41.04 and a two-hundred day moving average price of $43.25. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 9.90 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced 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 firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts expect that Caesars Entertainment, Inc. will post 1.02 earnings per share for the current year.

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.