Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $62.00 at Truist Financial

Caesars Entertainment (NASDAQ:CZR) had its target price lowered by investment analysts at Truist Financial from $70.00 to $62.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 52.60% from the company’s current price.

CZR has been the subject of several other reports. Bank of America increased their price target on shares of Caesars Entertainment from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Capital One Financial assumed coverage on shares of Caesars Entertainment in a research report on Thursday, October 12th. They set an “equal weight” rating and a $51.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Caesars Entertainment from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Barclays decreased their price objective on Caesars Entertainment from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, TheStreet upgraded Caesars Entertainment from a “d” rating to a “c-” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.82.

Caesars Entertainment Stock Up 2.9 %

NASDAQ:CZR opened at $40.63 on Wednesday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.78 and a quick ratio of 0.76. Caesars Entertainment has a 1-year low of $38.33 and a 1-year high of $60.27. The company has a 50-day moving average of $47.13 and a 200 day moving average of $48.39. The firm has a market cap of $8.75 billion, a PE ratio of 12.43 and a beta of 2.91.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.07. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Caesars Entertainment had a net margin of 6.16% and a return on equity of 6.21%. Caesars Entertainment’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. As a group, research analysts anticipate that Caesars Entertainment will post 1.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caesars Entertainment news, CAO Stephanie Lepori sold 33,282 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $51.70, for a total transaction of $1,720,679.40. Following the completion of the sale, the chief accounting officer now directly owns 41,910 shares in the company, valued at approximately $2,166,747. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Caesars Entertainment by 1.0% during the third quarter. Vanguard Group Inc. now owns 22,308,591 shares of the company’s stock worth $719,676,000 after buying an additional 224,057 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Caesars Entertainment by 3.9% during the 1st quarter. BlackRock Inc. now owns 18,038,618 shares of the company’s stock worth $880,465,000 after acquiring an additional 676,512 shares during the period. Point Break Capital Management LLC boosted its position in shares of Caesars Entertainment by 10.3% during the 1st quarter. Point Break Capital Management LLC now owns 10,617,833 shares of the company’s stock valued at $821,396,000 after acquiring an additional 987,230 shares during the last quarter. State Street Corp grew its holdings in shares of Caesars Entertainment by 4.4% in the second quarter. State Street Corp now owns 7,883,415 shares of the company’s stock valued at $401,818,000 after purchasing an additional 329,604 shares during the period. Finally, Capital International Investors increased its position in Caesars Entertainment by 2.9% during the first quarter. Capital International Investors now owns 4,965,083 shares of the company’s stock worth $384,099,000 after purchasing an additional 140,802 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company owns, leases, or manages domestic properties in 16 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 sports wagering across 28 jurisdictions in North America, including mobile for sports betting and regulated online real money gaming in six jurisdictions in North America; retail and online gaming and sports betting; and other games, such as keno.