Truist Financial Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $38.00

Caesars Entertainment (NASDAQ:CZR) had its target price cut by analysts at Truist Financial from $40.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 25.21% from the stock’s current price.

Several other equities research analysts have also recently commented on CZR. The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They set a “buy” rating and a $36.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $45.00 price target on shares of Caesars Entertainment in a research report on Wednesday, April 30th. JPMorgan Chase & Co. started coverage on Caesars Entertainment in a report on Monday, June 23rd. They issued an “overweight” rating and a $47.00 price objective for the company. Capital One Financial upgraded shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. Finally, Cfra reiterated a “hold” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.07.

Caesars Entertainment Price Performance

Shares of CZR stock opened at $30.35 on Wednesday. The firm’s 50 day moving average price is $28.50 and its two-hundred day moving average price is $29.88. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a 52-week low of $21.40 and a 52-week high of $45.93. The stock has a market cap of $6.31 billion, a PE ratio of -27.84, a PEG ratio of 84.12 and a beta of 2.29.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the business earned ($0.73) EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Caesars Entertainment by 52.0% in the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after buying an additional 359 shares during the period. Mather Group LLC. increased its stake in Caesars Entertainment by 64.4% in the first quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Caesars Entertainment by 1.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock valued at $1,287,000 after purchasing an additional 408 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Caesars Entertainment by 35.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock valued at $46,000 after purchasing an additional 477 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Caesars Entertainment by 69.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after purchasing an additional 478 shares during the last quarter. Institutional investors and hedge funds 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.