Truist Financial Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $30.00

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by investment analysts at Truist Financial from $32.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 60.94% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, October 8th. Susquehanna dropped their target price on shares of Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Barclays dropped their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Zacks Research lowered shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Finally, Morgan Stanley decreased their price target on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

Caesars Entertainment Stock Performance

Shares of CZR opened at $18.64 on Wednesday. The company has a market capitalization of $3.88 billion, a PE ratio of -16.21 and a beta of 2.38. Caesars Entertainment has a one year low of $18.25 and a one year high of $41.77. The company has a debt-to-equity ratio of 6.23, a current ratio of 0.78 and a quick ratio of 0.81. The company’s fifty day moving average price is $24.76 and its 200 day moving average price is $26.64.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. Caesars Entertainment had a negative return on equity of 5.76% and a negative net margin of 2.12%.The business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. As a group, analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Several institutional investors have recently made changes to their positions in CZR. GAMMA Investing LLC boosted its position in shares of Caesars Entertainment by 106.8% during the 1st quarter. GAMMA Investing LLC now owns 3,987 shares of the company’s stock valued at $100,000 after acquiring an additional 2,059 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Caesars Entertainment by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,234 shares of the company’s stock valued at $725,000 after acquiring an additional 4,684 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Caesars Entertainment by 14.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company’s stock valued at $261,000 after acquiring an additional 1,360 shares in the last quarter. Mather Group LLC. boosted its position in shares of Caesars Entertainment by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock valued at $26,000 after acquiring an additional 405 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Caesars Entertainment by 1,051.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company’s stock valued at $87,399,000 after acquiring an additional 3,192,224 shares in the last quarter. 91.79% 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. 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.