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Truist Financial Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $32.00

Caesars Entertainment logo with Consumer Discretionary background

Key Points

  • Truist Financial has reduced its price target for Caesars Entertainment from $37.00 to $32.00, while maintaining a "buy" rating, indicating a potential upside of 42.01% from the stock's last close.
  • Other analysts offer mixed views, with ratings ranging from "strong buy" to "strong sell," contributing to a consensus rating of "Moderate Buy" and an average target price of $41.80.
  • Caesars reported a quarterly earnings miss, posting a loss of ($0.39) per share, while revenue increased by 2.7% year-over-year, reaching $2.91 billion.
  • MarketBeat previews the top five stocks to own by November 1st.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective lowered by Truist Financial from $37.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 42.01% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Citigroup reiterated a "market outperform" rating on shares of Caesars Entertainment in a report on Friday, July 18th. JMP Securities decreased their price objective on Caesars Entertainment from $41.00 to $40.00 and set a "market outperform" rating for the company in a report on Friday. Stifel Nicolaus dropped their price target on Caesars Entertainment from $45.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Caesars Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Finally, Morgan Stanley lowered their price objective on shares of Caesars Entertainment from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.80.

Check Out Our Latest Analysis on CZR

Caesars Entertainment Trading Up 1.5%

CZR stock traded up $0.33 during midday trading on Tuesday, reaching $22.53. The company's stock had a trading volume of 1,239,836 shares, compared to its average volume of 6,110,130. The stock has a fifty day simple moving average of $25.35 and a two-hundred day simple moving average of $26.86. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -24.48 and a beta of 2.38. Caesars Entertainment has a 1 year low of $21.40 and a 1 year high of $45.65.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in shares of Caesars Entertainment by 103.5% in the second quarter. Assenagon Asset Management S.A. now owns 166,209 shares of the company's stock valued at $4,719,000 after purchasing an additional 84,545 shares during the period. DAVENPORT & Co LLC boosted its holdings in Caesars Entertainment by 1,051.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock worth $87,399,000 after buying an additional 3,192,224 shares during the last quarter. Penn Capital Management Company LLC increased its stake in Caesars Entertainment by 101.9% during the 1st quarter. Penn Capital Management Company LLC now owns 45,207 shares of the company's stock worth $1,154,000 after buying an additional 22,812 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Caesars Entertainment by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,495 shares of the company's stock valued at $261,000 after acquiring an additional 1,360 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Caesars Entertainment in the first quarter worth approximately $540,000. 91.79% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment

(Get Free Report)

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.

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Analyst Recommendations for Caesars Entertainment (NASDAQ:CZR)

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