JPMorgan Chase & Co. Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its target price trimmed by JPMorgan Chase & Co. from $58.00 to $57.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also commented on CZR. Barclays cut their price target on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Wells Fargo & Company reduced their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley raised their price target on shares of Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities reduced their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 target price on shares of Caesars Entertainment in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.43.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $32.51 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market cap of $6.91 billion, a PE ratio of -19.47 and a beta of 2.90. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $47.99. The business’s 50-day moving average price is $37.35 and its two-hundred day moving average price is $38.39.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts expect that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Signaturefd LLC raised its stake in Caesars Entertainment by 9.8% during the 3rd quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after buying an additional 248 shares during the period. Assetmark Inc. raised its position in shares of Caesars Entertainment by 8.0% during the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock worth $144,000 after purchasing an additional 256 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Caesars Entertainment by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 10,850 shares of the company’s stock worth $453,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC grew its position in Caesars Entertainment by 25.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares during the period. Finally, Fiduciary Family Office LLC increased its stake in Caesars Entertainment by 1.7% during the 3rd quarter. Fiduciary Family Office LLC now owns 25,215 shares of the company’s stock valued at $1,052,000 after purchasing an additional 424 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.