Truist Financial Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $37.00

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 target price lowered by investment analysts at Truist Financial from $38.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 43.09% from the stock's previous close.

A number of other analysts have also recently commented on the company. Susquehanna upped their price target on Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on Caesars Entertainment from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JMP Securities reduced their price target on Caesars Entertainment from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Capital One Financial upgraded Caesars Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $51.00 to $47.00 in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.53.

Caesars Entertainment Stock Performance

Caesars Entertainment stock traded down $0.82 during mid-day trading on Wednesday, reaching $25.86. 1,994,744 shares of the stock traded hands, compared to its average volume of 5,483,881. The stock has a market capitalization of $5.38 billion, a PE ratio of -27.90 and a beta of 2.29. 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 12-month low of $21.40 and a 12-month high of $45.93. The business's 50-day moving average is $28.41 and its 200-day moving average is $29.63.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.46). The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.56) EPS. As a group, sell-side analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in Caesars Entertainment by 6.9% during the second quarter. Envestnet Asset Management Inc. now owns 188,377 shares of the company's stock valued at $5,348,000 after buying an additional 12,217 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Caesars Entertainment by 1.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,652 shares of the company's stock valued at $728,000 after buying an additional 476 shares during the last quarter. AlphaQuest LLC boosted its stake in Caesars Entertainment by 91.6% during the second quarter. AlphaQuest LLC now owns 18,984 shares of the company's stock valued at $539,000 after buying an additional 9,077 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Caesars Entertainment by 12.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,623 shares of the company's stock valued at $273,000 after buying an additional 1,057 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Caesars Entertainment by 9.6% during the second quarter. Asset Management One Co. Ltd. now owns 6,784 shares of the company's stock valued at $193,000 after buying an additional 592 shares during the last quarter. 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.