Caesars Entertainment (NASDAQ:CZR) Price Target Lowered to $57.00 at JPMorgan Chase & Co.

Caesars Entertainment (NASDAQ:CZR) had its target price decreased by stock 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 75.33% from the company’s current price.

CZR has been the subject of a number of other reports. Morgan Stanley raised their price target on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company cut their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JMP Securities decreased their target price on shares of Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Macquarie restated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Finally, Jefferies Financial Group decreased their price objective on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a report on Friday. One research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $52.43.

Caesars Entertainment Stock Performance

Shares of CZR opened at $32.51 on Friday. The company has a market capitalization of $6.91 billion, a PE ratio of -19.47 and a beta of 2.90. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The company’s 50 day moving average price is $37.35 and its 200 day moving average price is $38.38. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $47.99.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly 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 net margin of 3.20% and a negative return on equity of 4.44%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Research analysts expect that Caesars Entertainment will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.