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

Caesars Entertainment (NASDAQ:CZR) had its target price reduced by JPMorgan Chase & Co. from $58.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 74.90% from the stock’s current price.

CZR has been the topic of a number of other research reports. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Barclays cut their price target on shares of Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Stifel Nicolaus increased their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities dropped their target price on 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. Finally, Wells Fargo & Company decreased their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.43.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $32.59 on Friday. The company’s 50 day moving average is $37.58 and its 200 day moving average is $38.40. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of -19.51 and a beta of 2.89. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $47.99.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Caesars Entertainment by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,454,520 shares of the company’s stock valued at $60,712,000 after acquiring an additional 59,170 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Caesars Entertainment by 9.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,214 shares of the company’s stock worth $844,000 after purchasing an additional 1,807 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Caesars Entertainment during the 3rd quarter valued at approximately $262,000. MidWestOne Financial Group Inc. lifted its stake in shares of Caesars Entertainment by 59.7% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 41,816 shares of the company’s stock valued at $1,745,000 after purchasing an additional 15,629 shares during the period. Finally, M&T Bank Corp boosted its holdings in Caesars Entertainment by 163.7% during the third quarter. M&T Bank Corp now owns 26,013 shares of the company’s stock worth $1,086,000 after buying an additional 16,150 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.