Truist Financial Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective cut by Truist Financial from $52.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 43.80% from the stock’s previous close.

CZR has been the subject of several other reports. Morgan Stanley raised their target price on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays lowered their price objective on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. StockNews.com raised Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group cut their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.14.

Caesars Entertainment Trading Up 0.6 %

Shares of NASDAQ:CZR opened at $33.38 on Tuesday. The company has a market capitalization of $7.09 billion, a PE ratio of -19.99 and a beta of 2.90. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $47.99. The business’s fifty day simple moving average is $35.95 and its 200-day simple moving average is $38.04.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Caesars Entertainment’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, equities research analysts predict that Caesars Entertainment will post -0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors have recently modified their holdings of CZR. Huntington National Bank grew its holdings in Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after acquiring an additional 833 shares during the period. UMB Bank n.a. acquired a new stake in shares of Caesars Entertainment during the 3rd quarter worth approximately $51,000. Quarry LP purchased a new position in shares of Caesars Entertainment during the 3rd quarter valued at approximately $68,000. GAMMA Investing LLC lifted its stake in shares of Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Signaturefd LLC boosted its holdings in Caesars Entertainment by 9.8% during the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after buying an additional 248 shares in the last quarter. 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.