Caesars Entertainment (NASDAQ:CZR) Stock Price Down 4%

Caesars Entertainment, Inc. (NASDAQ:CZR) traded down 4% on Friday . The company traded as low as $36.43 and last traded at $36.51. 3,281,597 shares traded hands during trading, an increase of 4% from the average session volume of 3,158,123 shares. The stock had previously closed at $38.04.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CZR shares. Susquehanna dropped their price objective on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a research note on Friday, April 19th. Barclays lowered their target price on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Truist Financial reduced their price target on Caesars Entertainment from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.36.

Caesars Entertainment Stock Down 3.8 %

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 business’s fifty day moving average price is $41.37 and its two-hundred day moving average price is $43.44. The stock has a market capitalization of $7.92 billion, a PE ratio of 10.09 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts forecast that Caesars Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Insider Activity at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of Caesars Entertainment stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $41.45 per share, with a total value of $621,750.00. Following the transaction, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in Caesars Entertainment by 26.4% during the third quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock worth $2,057,000 after purchasing an additional 9,270 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caesars Entertainment by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock worth $95,144,000 after buying an additional 77,595 shares during the period. GSA Capital Partners LLP acquired a new stake in Caesars Entertainment in the 3rd quarter valued at $2,259,000. Strs Ohio grew its stake in Caesars Entertainment by 33.2% in the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock valued at $31,723,000 after acquiring an additional 168,738 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Caesars Entertainment by 1,029.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock worth $11,998,000 after acquiring an additional 233,271 shares in the last quarter. 91.79% of the stock is 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.