Caesars Entertainment (NASDAQ:CZR) Price Target Raised to $32.00

Caesars Entertainment (NASDAQ:CZR) had its price target upped by Truist Financial from $29.00 to $32.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Caesars Entertainment from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Morgan Stanley raised their target price on 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 restated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Wells Fargo & Company raised their target price on Caesars Entertainment from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.93.

Caesars Entertainment Stock Up 1.6%

CZR stock opened at $27.93 on Tuesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.78 and a current ratio of 0.80. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -11.49 and a beta of 1.87. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The stock has a fifty day moving average of $25.52 and a 200-day moving average of $23.48.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, equities research analysts predict that Caesars Entertainment will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Large investors have recently modified their holdings of the company. ING Groep NV increased its stake in Caesars Entertainment by 80.2% in the 3rd quarter. ING Groep NV now owns 599,854 shares of the company’s stock worth $16,211,000 after purchasing an additional 266,917 shares during the period. Assenagon Asset Management S.A. increased its stake in Caesars Entertainment by 317.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,274,430 shares of the company’s stock worth $76,589,000 after purchasing an additional 2,490,924 shares during the period. Principal Financial Group Inc. increased its stake in Caesars Entertainment by 56.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,700,389 shares of the company’s stock worth $45,953,000 after purchasing an additional 612,837 shares during the period. Capital World Investors increased its stake in Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares during the period. Finally, LDR Capital Management LLC purchased a new position in Caesars Entertainment in the 3rd quarter worth approximately $1,172,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

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.