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

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price target dropped by investment analysts at Truist Financial from $40.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 26.67% from the company's current price.

Other research analysts have also recently issued research reports about the company. Cfra restated a "hold" rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Friday, July 11th. Raymond James Financial decreased their price target on Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 19th. Barclays boosted their price target on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. began coverage on Caesars Entertainment in a research note on Monday, June 23rd. They issued an "overweight" rating and a $47.00 price target for the company. Finally, Stifel Nicolaus reduced their price objective on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.07.

Caesars Entertainment Stock Up 0.6%

Caesars Entertainment stock traded up $0.17 during mid-day trading on Wednesday, hitting $30.00. The company had a trading volume of 3,250,414 shares, compared to its average volume of 4,964,543. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84. The stock's 50 day moving average price is $28.45 and its two-hundred day moving average price is $29.89. Caesars Entertainment has a 12 month low of $21.40 and a 12 month high of $45.93. The company has a market capitalization of $6.24 billion, a PE ratio of -27.52, a price-to-earnings-growth ratio of 19.74 and a beta of 2.29.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the prior year, the firm earned ($0.73) EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently bought and sold shares of the stock. Cannell Capital LLC bought a new stake in Caesars Entertainment during the fourth quarter valued at about $13,498,000. Russell Investments Group Ltd. grew its holdings in Caesars Entertainment by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock valued at $26,840,000 after purchasing an additional 38,505 shares during the period. Vanguard Group Inc. grew its holdings in Caesars Entertainment by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock valued at $780,854,000 after purchasing an additional 100,263 shares during the period. Bryce Point Capital LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth about $504,000. Finally, Khrom Capital Management LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth about $16,191,000. Institutional investors own 91.79% of the company's stock.

About Caesars Entertainment

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.