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

Caesars Entertainment (NASDAQ:CZR) had its price target lowered by analysts at JPMorgan Chase & Co. from $43.00 to $38.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 103.86% from the stock’s previous close.

Several other analysts also recently issued reports on CZR. Citigroup reissued a “market outperform” rating on shares of Caesars Entertainment in a research note on Wednesday. Morgan Stanley cut their target price on shares of Caesars Entertainment from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Stifel Nicolaus lowered their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Zacks Research cut shares of Caesars Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They set a “buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.06.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR opened at $18.64 on Wednesday. The company’s fifty day moving average is $24.76 and its two-hundred day moving average is $26.64. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 6.23. Caesars Entertainment has a 12-month low of $18.25 and a 12-month high of $41.77. The company has a market cap of $3.88 billion, a P/E ratio of -16.21 and a beta of 2.38.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, October 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm earned ($0.04) earnings per share. Caesars Entertainment’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caesars Entertainment

A number of large investors have recently bought and sold shares of the business. Osborne Partners Capital Management LLC boosted its holdings in Caesars Entertainment by 1.5% in the third quarter. Osborne Partners Capital Management LLC now owns 379,053 shares of the company’s stock worth $10,244,000 after purchasing an additional 5,470 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Caesars Entertainment by 38.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 42,093 shares of the company’s stock worth $1,138,000 after purchasing an additional 11,793 shares in the last quarter. LDR Capital Management LLC bought a new stake in Caesars Entertainment in the third quarter worth $1,172,000. Amalgamated Bank lifted its position in Caesars Entertainment by 57.5% during the 3rd quarter. Amalgamated Bank now owns 63,487 shares of the company’s stock worth $1,716,000 after acquiring an additional 23,178 shares during the last quarter. Finally, Fiduciary Family Office LLC lifted its position in Caesars Entertainment by 18.9% during the 3rd quarter. Fiduciary Family Office LLC now owns 17,623 shares of the company’s stock worth $476,000 after acquiring an additional 2,803 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.