Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $58.00

Caesars Entertainment (NASDAQ:CZR) had its price target dropped by equities researchers at Truist Financial from $62.00 to $58.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 50.73% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reduced 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. Deutsche Bank Aktiengesellschaft reduced 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. Barclays reduced 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. Wells Fargo & Company cut 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, Morgan Stanley lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $57.36.

Caesars Entertainment Stock Down 1.6 %

Caesars Entertainment stock opened at $38.48 on Tuesday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 10.60 and a beta of 2.81. Caesars Entertainment has a 1-year low of $37.71 and a 1-year high of $60.27. The business has a fifty day moving average price of $41.56 and a 200-day moving average price of $43.51.

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 analysts’ consensus estimates 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 business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) EPS. Equities research analysts forecast that Caesars Entertainment will post 1.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael E. Pegram purchased 15,000 shares of Caesars Entertainment stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $41.45 per share, with a total value of $621,750.00. Following the transaction, the director now owns 4,612 shares in the company, valued at $191,167.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Caesars Entertainment by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock worth $1,104,488,000 after acquiring an additional 148,034 shares during the period. Capital World Investors increased its position in shares of Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after acquiring an additional 916,282 shares during the period. HG Vora Capital Management LLC increased its position in shares of Caesars Entertainment by 2.0% during the fourth quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock worth $239,088,000 after acquiring an additional 100,000 shares during the period. Invesco Ltd. increased its position in shares of Caesars Entertainment by 8.7% during the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after acquiring an additional 293,078 shares during the period. Finally, Norges Bank purchased a new stake in shares of Caesars Entertainment during the fourth quarter worth $102,213,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.