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

Key Points

• Truist Financial has lowered its price target for Caesars Entertainment from $38.00 to $37.00, maintaining a "buy" rating, which suggests a potential upside of 30.53% from the current stock price.
• Analysts have mixed ratings on the stock, with four rating it as a hold, twelve as a buy, and one as a strong buy, leading to a consensus rating of "Moderate Buy."
• Caesars recently reported a negative earnings per share (EPS) of ($0.39), missing analysts' expectations, while quarterly revenue increased by 2.7% year-over-year.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price target lowered by equities research analysts at Truist Financial from $38.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 44.08% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Capital One Financial upgraded shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a research report on Monday, July 7th. They set a "buy" rating and a $36.00 target price on the stock. Cfra reaffirmed a "hold" rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Caesars Entertainment from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, JMP Securities lowered their target price on shares of Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.53.

Caesars Entertainment Price Performance

Shares of CZR traded down $1.00 during mid-day trading on Wednesday, hitting $25.68. The company's stock had a trading volume of 7,822,694 shares, compared to its average volume of 5,481,769. The firm has a 50-day moving average price of $28.37 and a 200 day moving average price of $29.55. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of -27.91 and a beta of 2.40. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.82. Caesars Entertainment has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business earned ($0.56) earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CZR. Cannell Capital LLC bought a new stake in shares of Caesars Entertainment during the fourth quarter worth $13,498,000. Russell Investments Group Ltd. grew its stake in shares of Caesars Entertainment by 5.0% in the fourth quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock valued at $26,840,000 after buying an additional 38,505 shares in the last quarter. Bryce Point Capital LLC bought a new position in shares of Caesars Entertainment in the fourth quarter valued at $504,000. Khrom Capital Management LLC bought a new position in shares of Caesars Entertainment in the fourth quarter valued at $16,191,000. Finally, DAVENPORT & Co LLC lifted its holdings in Caesars Entertainment by 1,051.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after purchasing an additional 3,192,224 shares during the last quarter. 91.79% of the stock is currently 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.