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

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by JPMorgan Chase & Co. from $58.00 to $57.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts also recently commented on CZR. StockNews.com raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday. JMP Securities reduced their target price on Caesars Entertainment from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Finally, Stifel Nicolaus increased their price target on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $52.43.

Caesars Entertainment Stock Performance

Shares of NASDAQ CZR opened at $32.51 on Friday. 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 stock has a 50 day moving average price of $37.35 and a 200 day moving average price of $38.39. 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 52 week low of $31.74 and a 52 week high of $47.99.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) 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 the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The company’s revenue for the quarter 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.

Hedge Funds Weigh In On Caesars Entertainment

Several institutional investors and hedge funds have recently modified their holdings of CZR. Huntington National Bank grew its position in Caesars Entertainment by 3,203.8% during the third quarter. Huntington National Bank now owns 859 shares of the company’s stock worth $36,000 after buying an additional 833 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Caesars Entertainment during the 3rd quarter worth $51,000. Quarry LP bought a new position in shares of Caesars Entertainment in the third quarter worth $68,000. GAMMA Investing LLC raised its stake in Caesars Entertainment by 25.1% in the third quarter. GAMMA Investing LLC now owns 2,010 shares of the company’s stock valued at $84,000 after purchasing an additional 403 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Caesars Entertainment by 9.8% during the third quarter. Signaturefd LLC now owns 2,788 shares of the company’s stock worth $116,000 after purchasing an additional 248 shares during the period. 91.79% of the stock is currently 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.