JPMorgan Chase & Co. Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its target price cut by investment analysts at JPMorgan Chase & Co. from $58.00 to $57.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 74.90% from the stock’s previous close.

A number of other brokerages have also weighed in on CZR. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group reduced their target price on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.43.

Caesars Entertainment Stock Down 2.5 %

Shares of CZR opened at $32.59 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The firm has a market cap of $6.92 billion, a P/E ratio of -19.51 and a beta of 2.89. The stock’s 50 day moving average is $37.58 and its two-hundred day moving average is $38.40. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $47.99.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $0.34 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Analysts predict that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Signaturefd LLC raised its position in Caesars Entertainment by 9.8% in the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock valued at $116,000 after purchasing an additional 248 shares during the period. Assetmark Inc. grew its stake in shares of Caesars Entertainment by 8.0% in the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after buying an additional 256 shares in the last quarter. Private Advisor Group LLC raised 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 valued at $453,000 after buying an additional 317 shares during the period. GAMMA Investing LLC lifted its stake in Caesars Entertainment by 25.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock worth $84,000 after acquiring an additional 403 shares in the last quarter. Finally, Fiduciary Family Office LLC boosted its holdings 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 acquiring an additional 424 shares during the period. 91.79% of the stock is currently owned by hedge funds and other 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.