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

Caesars Entertainment (NASDAQ:CZR) had its target price lowered by Truist Financial from $62.00 to $58.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on CZR. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating for the company in a research note on Tuesday, January 9th. Morgan Stanley lifted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. StockNews.com lowered Caesars Entertainment from a buy rating to a hold rating in a research note on Monday, January 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Caesars Entertainment from $62.00 to $59.00 and set a buy rating for the company in a research note on Friday, April 12th. Finally, Barclays lowered their price target on Caesars Entertainment from $65.00 to $63.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of Moderate Buy and an average target price of $57.36.

Caesars Entertainment Stock Performance

Shares of CZR opened at $38.04 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 10.48 and a beta of 2.81. The stock has a 50 day moving average of $41.48 and a 200 day moving average of $43.47. Caesars Entertainment has a 12 month low of $37.34 and a 12 month high of $60.27.

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

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram purchased 15,000 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CZR. Norges Bank purchased a new position in Caesars Entertainment during the 4th quarter valued at about $102,213,000. AQR Capital Management LLC boosted its position in Caesars Entertainment by 938.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,043,044 shares of the company’s stock valued at $48,345,000 after acquiring an additional 942,621 shares in the last quarter. Capital World Investors boosted its position in Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Caesars Entertainment by 481.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 908,030 shares of the company’s stock valued at $42,087,000 after acquiring an additional 751,938 shares in the last quarter. Finally, Blackstone Inc. bought a new stake in Caesars Entertainment during the 3rd quarter valued at approximately $34,762,000. Hedge funds and other institutional investors 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.