Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $48.00 at Truist Financial

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by stock analysts at Truist Financial from $52.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 43.80% from the stock’s current price.

CZR has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group lowered their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $33.38 on Tuesday. 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 firm has a fifty day moving average of $35.95 and a 200 day moving average of $38.04. The firm has a market cap of $7.09 billion, a PE ratio of -19.99 and a beta of 2.90. Caesars Entertainment has a one year low of $30.78 and a one year high of $47.99.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts predict that Caesars Entertainment will post -0.55 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Key Colony Management LLC acquired a new position in Caesars Entertainment in the fourth quarter valued at about $6,350,000. Assenagon Asset Management S.A. raised its stake in shares of Caesars Entertainment by 383.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock valued at $71,536,000 after acquiring an additional 1,697,443 shares during the period. Czech National Bank lifted its holdings in shares of Caesars Entertainment by 4.6% in the 4th quarter. Czech National Bank now owns 46,079 shares of the company’s stock worth $1,540,000 after acquiring an additional 2,009 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Caesars Entertainment by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock worth $60,712,000 after purchasing an additional 59,170 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of Caesars Entertainment by 9.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,214 shares of the company’s stock worth $844,000 after purchasing an additional 1,807 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

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.