Truist Financial Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $58.00

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by Truist Financial from $62.00 to $58.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 47.77% from the company’s previous close.

A number of other equities research analysts also recently commented on CZR. Susquehanna lowered their price objective on Caesars Entertainment from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Barclays lowered their price target on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Morgan Stanley boosted their price target 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. Finally, Stifel Nicolaus lowered their price target on Caesars Entertainment from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.36.

Caesars Entertainment Stock Up 2.2 %

Shares of CZR traded up $0.83 during mid-day trading on Tuesday, reaching $39.25. The company’s stock had a trading volume of 914,225 shares, compared to its average volume of 3,143,959. Caesars Entertainment has a 12-month low of $37.71 and a 12-month high of $60.27. The stock has a market cap of $8.49 billion, a PE ratio of 10.77 and a beta of 2.81. 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 company’s 50 day moving average is $41.63 and its 200 day moving average is $43.55.

Caesars Entertainment (NASDAQ:CZR) last posted 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). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business posted ($0.11) earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Caesars Entertainment will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Caesars Entertainment

In related news, Director Michael E. Pegram bought 15,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $41.45 per share, for a total transaction of $621,750.00. Following the completion of the acquisition, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Caesars Entertainment by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after acquiring an additional 148,034 shares during the last quarter. Capital World Investors grew its holdings in Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. HG Vora Capital Management LLC grew its holdings in shares of Caesars Entertainment by 2.0% in the 4th quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock valued at $239,088,000 after buying an additional 100,000 shares during the period. Invesco Ltd. grew its holdings in shares of Caesars Entertainment by 8.7% in the 3rd quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock valued at $169,521,000 after buying an additional 293,078 shares during the period. Finally, Norges Bank acquired a new position in shares of Caesars Entertainment in the 4th quarter valued at $102,213,000. 91.79% of the stock is owned by institutional investors and hedge funds.

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.