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

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by Truist Financial from $32.00 to $30.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Susquehanna reduced their price objective on Caesars Entertainment from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. Barclays reduced their price objective on Caesars Entertainment from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Zacks Research cut Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group initiated coverage on Caesars Entertainment in a research note on Monday, July 7th. They set a “buy” rating and a $36.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.06.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $18.73 on Wednesday. The stock has a market cap of $3.90 billion, a P/E ratio of -16.29 and a beta of 2.38. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 6.08. The stock has a 50 day moving average of $24.89 and a 200-day moving average of $26.70. Caesars Entertainment has a 52 week low of $18.64 and a 52 week high of $43.88.

Caesars Entertainment (NASDAQ:CZR) last released 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 business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.66%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) earnings per share. On average, analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC lifted its stake in Caesars Entertainment by 508.5% in the second quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock valued at $25,000 after buying an additional 722 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Caesars Entertainment by 64.4% during the first quarter. Mather Group LLC. now owns 1,034 shares of the company’s stock valued at $26,000 after purchasing an additional 405 shares during the period. UMB Bank n.a. increased its holdings in shares of Caesars Entertainment by 52.0% during the second quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Caesars Entertainment by 168.5% during the second quarter. Farther Finance Advisors LLC now owns 1,133 shares of the company’s stock valued at $32,000 after purchasing an additional 711 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Caesars Entertainment by 69.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the company’s stock valued at $33,000 after purchasing an additional 478 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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.