Caesars Entertainment (NASDAQ:CZR) Lowered to “Hold” Rating by Truist Financial

Truist Financial cut shares of Caesars Entertainment (NASDAQ:CZR) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $31.00 price target on the stock, down from their prior price target of $32.00.

Other equities analysts have also issued reports about the stock. Susquehanna upgraded shares of Caesars Entertainment from a “positive” rating to a “positive” rating in a research report on Friday. Citizens Jmp upped their price target on shares of Caesars Entertainment from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group boosted their target price on shares of Caesars Entertainment from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Hold” and an average target price of $32.73.

Caesars Entertainment Stock Performance

CZR opened at $29.05 on Friday. The firm has a market cap of $5.92 billion, a P/E ratio of -12.26 and a beta of 1.77. Caesars Entertainment has a 1-year low of $17.86 and a 1-year high of $31.58. The company has a 50 day simple moving average of $27.32 and a two-hundred day simple moving average of $24.52. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.85 and a quick ratio of 0.83.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.54) earnings per share. Equities analysts forecast that Caesars Entertainment will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CZR. Healthcare of Ontario Pension Plan Trust Fund increased its position in Caesars Entertainment by 246,899,900.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock valued at $115,500,000 after acquiring an additional 4,937,998 shares during the last quarter. Morgan Stanley increased its position in Caesars Entertainment by 121.0% during the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares during the last quarter. Capital World Investors increased its position in Caesars Entertainment by 29.8% during the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock valued at $437,622,000 after acquiring an additional 3,716,148 shares during the last quarter. Norges Bank bought a new position in Caesars Entertainment during the fourth quarter valued at $76,050,000. Finally, MUFG Securities EMEA plc bought a new position in Caesars Entertainment during the fourth quarter valued at $65,492,000. Institutional investors own 91.79% of the company’s stock.

Key Stories Impacting Caesars Entertainment

Here are the key news stories impacting Caesars Entertainment this week:

• Positive Sentiment: Caesars agreed to be acquired by Fertitta Entertainment for $31 per share in cash, a major premium that supports the stock and explains the sharp investor interest. Reuters: Caesars Entertainment to be bought by Fertitta Entertainment for $17.6 billion
• Positive Sentiment: The deal could boost broader casino consolidation and signals continued strategic value in Caesars’ assets, which may help sentiment around the company. Proactive Investors: Caesars Entertainment buyout potential catalyst for broader casino consolidation
• Neutral Sentiment: JPMorgan and Susquehanna reaffirmed neutral-style views while trimming price targets to $31, essentially matching the offer price and suggesting limited upside from here. Benzinga analyst updates
• Negative Sentiment: Truist downgraded Caesars from buy to hold, while Raymond James cut the stock to market perform, reflecting reduced upside now that a buyout is in place. Benzinga analyst updates
• Negative Sentiment: Law firms have opened shareholder investigations into whether the $31 per-share deal is fair, which could create some legal overhang. Business Wire: shareholder investigation

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.