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

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by equities research analysts at Truist Financial from $62.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 50.73% from the company’s previous close.

CZR has been the subject of a number of other research reports. Barclays dropped their price objective on Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. 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 target 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. Wells Fargo & Company dropped their price target on Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Finally, JMP Securities dropped their price target on Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a research note on Friday, April 19th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.36.

Caesars Entertainment Stock Down 1.6 %

Shares of CZR opened at $38.48 on Tuesday. The firm has a market cap of $8.32 billion, a P/E ratio of 10.60 and a beta of 2.81. The stock has a 50 day simple moving average of $41.56 and a two-hundred day simple moving average of $43.51. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. Caesars Entertainment has a 1 year low of $37.71 and a 1 year high of $60.27.

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

Insider Buying and Selling

In other news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $41.45 per share, with a total value of $621,750.00. Following the completion of the transaction, the director now owns 4,612 shares of the company’s stock, valued at approximately $191,167.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Assetmark Inc. lifted its position in shares of Caesars Entertainment by 10.6% during the 3rd quarter. Assetmark Inc. now owns 2,713 shares of the company’s stock valued at $126,000 after buying an additional 261 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Caesars Entertainment by 0.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the company’s stock valued at $1,625,000 after buying an additional 285 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in Caesars Entertainment by 4.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,631 shares of the company’s stock valued at $354,000 after purchasing an additional 295 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Caesars Entertainment by 13.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,192 shares of the company’s stock valued at $148,000 after purchasing an additional 376 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Caesars Entertainment by 8.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 5,000 shares of the company’s stock valued at $234,000 after purchasing an additional 400 shares during the period. 91.79% of the stock is 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.