Caesars Entertainment (NASDAQ:CZR) Stock Price Down 4.8% – Should You Sell?

Caesars Entertainment, Inc. (NASDAQ:CZR)’s stock price dropped 4.8% during trading on Friday . The stock traded as low as $26.82 and last traded at $26.89. Approximately 1,253,961 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,361,691 shares. The stock had previously closed at $28.25.

Wall Street Analysts Forecast Growth

CZR has been the subject of several analyst reports. Susquehanna upgraded shares of Caesars Entertainment from a “negative” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Thursday, March 6th. Jefferies Financial Group lowered their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Barclays lowered their price objective on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Caesars Entertainment Stock Performance

The stock’s 50 day moving average price is $33.39 and its 200 day moving average price is $36.93. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The company has a market capitalization of $5.80 billion, a P/E ratio of -16.38 and a beta of 2.97.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. As a group, equities analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Atria Investments Inc boosted its stake in Caesars Entertainment by 27.4% during the third quarter. Atria Investments Inc now owns 7,919 shares of the company’s stock worth $331,000 after acquiring an additional 1,703 shares in the last quarter. Quest Partners LLC boosted its stake in Caesars Entertainment by 528,000.0% during the third quarter. Quest Partners LLC now owns 5,281 shares of the company’s stock worth $220,000 after acquiring an additional 5,280 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Caesars Entertainment by 56.2% during the third quarter. PNC Financial Services Group Inc. now owns 32,424 shares of the company’s stock worth $1,353,000 after acquiring an additional 11,665 shares in the last quarter. Cerity Partners LLC boosted its stake in Caesars Entertainment by 65.8% during the third quarter. Cerity Partners LLC now owns 18,237 shares of the company’s stock worth $761,000 after acquiring an additional 7,235 shares in the last quarter. Finally, Algert Global LLC bought a new position in Caesars Entertainment during the third quarter worth $2,590,000. 91.79% of the stock is owned by 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.