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

Caesars Entertainment (NASDAQ:CZR) had its target price raised by JPMorgan Chase & Co. from $54.00 to $58.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 41.15% from the stock’s previous close.

A number of other research analysts have also commented on CZR. Jefferies Financial Group decreased their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $59.00 price objective on shares of Caesars Entertainment in a report on Monday, October 14th. Barclays raised their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Caesars Entertainment Price Performance

NASDAQ CZR traded down $4.19 during trading hours on Wednesday, reaching $41.09. 3,796,461 shares of the company’s stock were exchanged, compared to its average volume of 4,133,545. The firm has a fifty day moving average of $40.90 and a 200-day moving average of $38.14. Caesars Entertainment has a one year low of $31.74 and a one year high of $50.51. The stock has a market cap of $8.89 billion, a PE ratio of 11.69 and a beta of 2.97. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the company posted $0.34 EPS. Caesars Entertainment’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Caesars Entertainment will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of Caesars Entertainment

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares in the last quarter. Capital Research Global Investors increased its position in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after acquiring an additional 3,289,748 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Caesars Entertainment by 2.5% during the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock worth $420,633,000 after acquiring an additional 233,250 shares during the period. EdgePoint Investment Group Inc. lifted its position in Caesars Entertainment by 1.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after acquiring an additional 60,184 shares in the last quarter. Finally, Nut Tree Capital Management LP boosted its stake in Caesars Entertainment by 340.0% in the 1st quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after purchasing an additional 1,700,000 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.