Truist Financial Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $32.00

Caesars Entertainment (NASDAQ:CZR) had its target price lowered by Truist Financial from $37.00 to $32.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price target on Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Macquarie reduced their target price on Caesars Entertainment from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a report on Friday, July 18th. Finally, Barclays reduced their target price on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.80.

Caesars Entertainment Price Performance

Shares of NASDAQ CZR opened at $23.08 on Tuesday. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a fifty day moving average price of $25.20 and a 200 day moving average price of $26.80. Caesars Entertainment has a 1-year low of $21.40 and a 1-year high of $45.65. The company has a market cap of $4.80 billion, a PE ratio of -25.09 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%.The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned ($0.56) earnings per share. Caesars Entertainment’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Caesars Entertainment will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CZR. DAVENPORT & Co LLC increased its position in shares of Caesars Entertainment by 1,051.1% in the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock valued at $87,399,000 after buying an additional 3,192,224 shares in the last quarter. Norges Bank purchased a new position in shares of Caesars Entertainment in the second quarter valued at $79,604,000. Hein Park Capital Management LP purchased a new position in shares of Caesars Entertainment in the first quarter valued at $60,492,000. HG Vora Capital Management LLC increased its position in shares of Caesars Entertainment by 73.3% in the first quarter. HG Vora Capital Management LLC now owns 3,900,000 shares of the company’s stock valued at $97,500,000 after buying an additional 1,650,000 shares in the last quarter. Finally, Nomura Holdings Inc. increased its position in shares of Caesars Entertainment by 654.5% in the second quarter. Nomura Holdings Inc. now owns 1,787,505 shares of the company’s stock valued at $50,747,000 after buying an additional 1,550,589 shares in the last quarter. 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.