Truist Financial Forecasts Strong Price Appreciation for Caesars Entertainment (NASDAQ:CZR) Stock

Key Points

• Truist raised its price target on Caesars to $32 (from $29) and kept a buy rating, implying about a 14.08% upside from the prior close.
• Analyst coverage is mixed—nine Buys, seven Holds and one Sell—with MarketBeat showing an average rating of "Hold" and an average price target of $32.93.
• Caesars missed earnings last quarter (EPS -$1.23 vs. -$0.18 expected) despite a slight revenue beat, and the company shows a negative net margin, high leverage (debt-to-equity 3.17), and a market cap of about $5.71B.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective lifted by equities researchers at Truist Financial from $29.00 to $32.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 14.08% from the stock's previous close.

CZR has been the topic of a number of other research reports. Zacks Research raised Caesars Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Morgan Stanley raised their price target on shares of Caesars Entertainment from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Jefferies Financial Group raised their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Monday, April 6th. Finally, Barclays lowered their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Caesars Entertainment has an average rating of "Hold" and an average price target of $32.93.

Caesars Entertainment Stock Up 1.5%

Shares of Caesars Entertainment stock opened at $28.05 on Tuesday. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $31.58. The business has a fifty day simple moving average of $25.05 and a 200 day simple moving average of $23.42. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17. The stock has a market cap of $5.71 billion, a PE ratio of -11.52 and a beta of 1.87.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company earned $0.05 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Caesars Entertainment will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of CZR. Hantz Financial Services Inc. raised its stake in Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company's stock valued at $26,000 after buying an additional 510 shares during the period. Mather Group LLC. bought a new stake in Caesars Entertainment in the 3rd quarter valued at $28,000. Sunbelt Securities Inc. raised its stake in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after purchasing an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Caesars Entertainment by 456.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock worth $26,000 after purchasing an additional 918 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Caesars Entertainment during the third quarter worth approximately $41,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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