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

Caesars Entertainment (NASDAQ:CZR) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $58.00 to $57.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 75.33% from the stock’s previous close.

CZR has been the topic of a number of other reports. Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a research report on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group lowered their target price on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday. Barclays dropped their price target on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, Wells Fargo & Company reduced their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.43.

Caesars Entertainment Stock Down 0.2 %

Shares of Caesars Entertainment stock opened at $32.51 on Friday. The business has a 50-day moving average price of $37.35 and a 200 day moving average price of $38.38. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $47.99. The firm has a market cap of $6.91 billion, a P/E ratio of -19.47 and a beta of 2.90. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last posted 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). The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, sell-side analysts forecast that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Caesars Entertainment by 4.5% during the third quarter. Wellington Management Group LLP now owns 113,405 shares of the company’s stock valued at $4,734,000 after buying an additional 4,840 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Caesars Entertainment by 42.7% in the 2nd quarter. Hsbc Holdings PLC now owns 485,077 shares of the company’s stock valued at $19,148,000 after acquiring an additional 145,201 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Caesars Entertainment by 87.2% during the 3rd quarter. National Bank of Canada FI now owns 109,526 shares of the company’s stock valued at $4,572,000 after purchasing an additional 51,034 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Caesars Entertainment during the 3rd quarter valued at about $1,300,000. Finally, Gabelli Funds LLC grew its stake in shares of Caesars Entertainment by 28.0% in the 2nd quarter. Gabelli Funds LLC now owns 143,900 shares of the company’s stock worth $5,719,000 after purchasing an additional 31,500 shares during the last quarter. 91.79% of the stock is currently owned by institutional investors.

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.