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

Caesars Entertainment (NASDAQ:CZR) had its price objective lowered by JPMorgan Chase & Co. from $58.00 to $57.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley increased 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 dropped their price target 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. Stifel Nicolaus increased their price target on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays dropped their price target on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $52.43.

Caesars Entertainment Stock Down 0.2 %

Shares of CZR opened at $32.51 on Friday. The company’s 50-day simple moving average is $37.35 and its 200-day simple moving average is $38.38. The stock has a market capitalization of $6.91 billion, a PE ratio of -19.47 and a beta of 2.90. Caesars Entertainment has a 1 year low of $31.74 and a 1 year high of $47.99. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion during 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 firm’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. Analysts forecast that Caesars Entertainment will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors have recently bought and sold shares of CZR. Huntington National Bank increased its stake in Caesars Entertainment by 3,203.8% in the 3rd quarter. Huntington National Bank now owns 859 shares of the company’s stock valued at $36,000 after buying an additional 833 shares during the period. UMB Bank n.a. purchased a new stake in shares of Caesars Entertainment during the 3rd quarter worth $51,000. Quarry LP purchased a new stake in shares of Caesars Entertainment during the 3rd quarter worth $68,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 403 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of 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 purchasing an additional 248 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

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.