Caesars Entertainment (NASDAQ:CZR) Given New $58.00 Price Target at Truist Financial

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by Truist Financial from $62.00 to $58.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Caesars Entertainment from a buy rating to a hold rating in a research report on Monday, January 1st. JMP Securities dropped their target price on Caesars Entertainment from $65.00 to $62.00 and set a market outperform rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their target price on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday, January 9th. Susquehanna decreased their price target on Caesars Entertainment from $49.00 to $44.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft decreased 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $57.36.

Caesars Entertainment Trading Down 3.8 %

NASDAQ CZR opened at $36.61 on Tuesday. The firm has a market cap of $7.92 billion, a P/E ratio of 10.09 and a beta of 2.81. 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’s 50-day moving average is $41.37 and its 200-day moving average is $43.44. Caesars Entertainment has a one year low of $36.34 and a one year high of $60.27.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Caesars Entertainment will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael E. Pegram purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $41.45 per share, with a total value of $621,750.00. Following the acquisition, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its holdings in Caesars Entertainment by 26.4% in the 3rd quarter. Federated Hermes Inc. now owns 44,384 shares of the company’s stock valued at $2,057,000 after acquiring an additional 9,270 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Caesars Entertainment by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,052,738 shares of the company’s stock valued at $95,144,000 after acquiring an additional 77,595 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Caesars Entertainment in the 3rd quarter valued at $2,259,000. Strs Ohio raised its holdings in shares of Caesars Entertainment by 33.2% during the 4th quarter. Strs Ohio now owns 676,706 shares of the company’s stock worth $31,723,000 after buying an additional 168,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Caesars Entertainment by 1,029.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 255,925 shares of the company’s stock worth $11,998,000 after buying an additional 233,271 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.