Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $58.00

Caesars Entertainment (NASDAQ:CZR) had its price target dropped by research analysts at Truist Financial from $62.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 47.77% from the company’s current price.

Other equities analysts also recently issued reports about the stock. JMP Securities cut their price target on shares of Caesars Entertainment from $65.00 to $62.00 and set a “market outperform” rating for the company in a report on Friday. StockNews.com cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Barclays decreased their price objective on shares of Caesars Entertainment from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Caesars Entertainment from $62.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.36.

Caesars Entertainment Stock Up 2.2 %

Shares of CZR traded up $0.83 during mid-day trading on Tuesday, hitting $39.25. 914,225 shares of the company’s stock were exchanged, compared to its average volume of 3,143,959. The firm has a fifty day moving average of $41.63 and a two-hundred day moving average of $43.55. Caesars Entertainment has a twelve month low of $37.71 and a twelve month high of $60.27. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 10.77 and a beta of 2.81. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 2.59.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. Caesars Entertainment had a net margin of 6.82% and a return on equity of 4.48%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, sell-side analysts forecast that Caesars Entertainment will post 1.07 earnings per share for the current year.

Insider Transactions at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $41.45 per share, with a total value of $621,750.00. Following the completion of the transaction, the director now directly owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Caesars Entertainment in the third quarter valued at about $32,000. Altshuler Shaham Ltd acquired a new position in shares of Caesars Entertainment in the fourth quarter valued at about $45,000. Principal Securities Inc. acquired a new position in shares of Caesars Entertainment in the fourth quarter valued at about $46,000. Mather Group LLC. acquired a new position in shares of Caesars Entertainment in the first quarter valued at about $53,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Caesars Entertainment by 22,920.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock valued at $54,000 after acquiring an additional 1,146 shares in the last quarter. 91.79% of the stock is owned by institutional investors.

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.