Caesars Entertainment (NASDAQ:CZR) Downgraded by Truist Financial to Hold

Caesars Entertainment (NASDAQ:CZR) was downgraded by stock analysts at Truist Financial from a “buy” rating to a “hold” rating in a report issued on Friday,MarketScreener reports. They presently have a $31.00 price objective on the stock, down from their previous price objective of $32.00. Truist Financial’s price objective would indicate a potential upside of 6.95% from the company’s current price.

Several other brokerages have also issued reports on CZR. Morgan Stanley lifted their price target on Caesars Entertainment from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Stifel Nicolaus reduced their target price on shares of Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a research report on Friday. Barclays cut their price target on shares of Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesars Entertainment in a research note on Monday, May 18th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.73.

Caesars Entertainment Stock Down 0.3%

Shares of Caesars Entertainment stock traded down $0.10 on Friday, hitting $28.99. 5,069,453 shares of the company traded hands, compared to its average volume of 6,186,917. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $31.58. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 3.25. The company has a market cap of $5.90 billion, a PE ratio of -12.23 and a beta of 1.77. The company has a 50-day moving average price of $27.28 and a 200 day moving average price of $24.49.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.24). Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted ($0.54) earnings per share. Caesars Entertainment’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that Caesars Entertainment will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in shares of Caesars Entertainment by 110.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock worth $26,000 after purchasing an additional 510 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company’s stock valued at $26,000 after buying an additional 918 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Caesars Entertainment by 181.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the last quarter. CoreCap Advisors LLC increased its position in Caesars Entertainment by 44.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,581 shares of the company’s stock worth $37,000 after buying an additional 488 shares during the period. Finally, Stance Capital LLC acquired a new position in shares of Caesars Entertainment during the third quarter worth approximately $43,000. 91.79% of the stock is currently owned by institutional investors.

Caesars Entertainment News Summary

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, giving investors a clear takeout price and a substantial premium. Reuters: Caesars Entertainment to be bought by Fertitta Entertainment for $17.6 billion
• Positive Sentiment: The all-cash structure reduces deal uncertainty for shareholders and signals that the buyer is willing to assume Caesars’ heavy debt load to close the transaction. WSJ: Caesars to Be Acquired by Fertitta Entertainment in All-Cash Deal
• Neutral Sentiment: Analysts and market commentary suggested the deal could support broader casino industry consolidation, potentially reshaping the competitive landscape for gaming stocks. Proactive Investors: Caesars Entertainment buyout potential catalyst for broader casino consolidation
• Negative Sentiment: Several shareholder law firms have launched investigations into whether Caesars obtained a fair price, highlighting possible legal scrutiny around the transaction. PR Newswire: Shareholder Alert investigation
• Negative Sentiment: Commentary noted Caesars faces ongoing industry challenges, including softer Las Vegas visitation and competition from online gambling, which helps explain why the company was willing to sell. WSJ: With Caesars Deal, Tilman Fertitta Doubles Down on Vegas Comeback

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.