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

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by Truist Financial from $62.00 to $58.00 in a research report released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also weighed in on CZR. Morgan Stanley lifted their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. JMP Securities lowered their price objective on shares of Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating on the stock in a report on Friday, April 19th. StockNews.com downgraded shares of Caesars Entertainment from a buy rating to a hold rating in a report on Monday, January 1st. Susquehanna lowered their price objective on shares of Caesars Entertainment from $49.00 to $44.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Caesars Entertainment from $70.00 to $67.00 and set a buy rating on the stock in a report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $57.36.

Caesars Entertainment Stock Up 1.8 %

Caesars Entertainment stock opened at $39.12 on Tuesday. The company’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $43.51. Caesars Entertainment has a fifty-two week low of $37.71 and a fifty-two week high of $60.27. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.78 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.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caesars Entertainment will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael E. Pegram bought 15,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 4,612 shares in the company, valued at $191,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Caesars Entertainment

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Caesars Entertainment during the fourth quarter valued at $102,213,000. AQR Capital Management LLC boosted its stake in Caesars Entertainment by 938.7% during the third quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after buying an additional 942,621 shares during the last quarter. Capital World Investors boosted its stake in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after buying an additional 916,282 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Caesars Entertainment by 481.7% during the third quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after buying an additional 751,938 shares during the last quarter. Finally, Blackstone Inc. purchased a new position in shares of Caesars Entertainment in the 3rd quarter worth approximately $34,762,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.