Caesars Entertainment (NASDAQ:CZR) Given New $32.00 Price Target at Truist Financial

Caesars Entertainment (NASDAQ:CZR) had its price objective lifted by stock analysts at Truist Financial from $29.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 14.08% from the stock’s previous close.

CZR has been the subject of several other reports. Zacks Research upgraded shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Barclays decreased their target price on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Stifel Nicolaus decreased their price target on shares of Caesars Entertainment from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.93.

Caesars Entertainment Stock Up 1.5%

Shares of CZR opened at $28.05 on Tuesday. The stock has a fifty day moving average of $25.05 and a 200-day moving average of $23.42. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of -11.52 and a beta of 1.87. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caesars Entertainment will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Louisiana State Employees Retirement System purchased a new position in shares of Caesars Entertainment in the 1st quarter worth about $2,392,000. OP Asset Management Ltd purchased a new stake in Caesars Entertainment during the first quarter worth about $295,000. Assenagon Asset Management S.A. raised its position in Caesars Entertainment by 33.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,359,946 shares of the company’s stock worth $115,233,000 after acquiring an additional 1,085,516 shares during the period. Capital Advisors Ltd. LLC raised its position in Caesars Entertainment by 1,704,257.7% in the first quarter. Capital Advisors Ltd. LLC now owns 443,133 shares of the company’s stock worth $11,712,000 after acquiring an additional 443,107 shares during the period. Finally, Invesco Ltd. boosted its stake in Caesars Entertainment by 12.8% in the fourth quarter. Invesco Ltd. now owns 995,208 shares of the company’s stock valued at $23,278,000 after acquiring an additional 112,691 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.