Truist Financial Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $48.00

Caesars Entertainment (NASDAQ:CZR) had its price target cut by Truist Financial from $52.00 to $48.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. JMP Securities cut their price objective on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Macquarie reissued an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group dropped their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.86.

Caesars Entertainment Stock Down 0.2 %

CZR opened at $33.32 on Tuesday. The firm’s 50 day simple moving average is $35.79 and its two-hundred day simple moving average is $38.01. The company has a market capitalization of $7.08 billion, a PE ratio of -19.95 and a beta of 2.90. Caesars Entertainment has a 1-year low of $30.78 and a 1-year high of $47.99. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Caesars Entertainment’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Caesars Entertainment will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Janus Henderson Group PLC increased its stake in Caesars Entertainment by 18.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after acquiring an additional 1,983,151 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after purchasing an additional 60,184 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Caesars Entertainment by 383.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after purchasing an additional 1,697,443 shares during the last quarter. Helikon Investments Ltd raised its stake in Caesars Entertainment by 67.1% during the third quarter. Helikon Investments Ltd now owns 1,587,547 shares of the company’s stock valued at $66,264,000 after purchasing an additional 637,303 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in Caesars Entertainment during the third quarter valued at $61,890,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.