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

Caesars Entertainment, Inc. (NASDAQ:CZR) dropped 4.8% on Friday . The company traded as low as $26.82 and last traded at $26.89. Approximately 1,253,961 shares changed hands during 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 topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group dropped their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. TD Cowen dropped their price objective on shares of Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Macquarie dropped their price objective on shares of Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Caesars Entertainment Trading Down 3.2 %

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

Caesars Entertainment (NASDAQ:CZR) last announced 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 during the quarter, compared to the consensus estimate of $2.81 billion. As a group, analysts expect that Caesars Entertainment, Inc. will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. Bogart Wealth LLC boosted its holdings in Caesars Entertainment by 1,777.8% in the 4th quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares during the period. FIL Ltd bought a new stake in Caesars Entertainment in the 4th quarter valued at about $28,000. Resona Asset Management Co. Ltd. bought a new stake in Caesars Entertainment in the 4th quarter valued at about $44,000. Canada Pension Plan Investment Board boosted its holdings in Caesars Entertainment by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares during the period. Finally, Quarry LP bought a new stake in Caesars Entertainment in the 3rd quarter valued at about $68,000. Institutional investors own 91.79% of the company’s stock.

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.