JPMorgan Chase & Co. Initiates Coverage on Caesars Entertainment (NASDAQ:CZR)

JPMorgan Chase & Co. assumed coverage on shares of Caesars Entertainment (NASDAQ:CZR - Free Report) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $47.00 price target on the stock.

Several other analysts have also weighed in on CZR. Truist Financial reduced their price objective on Caesars Entertainment from $48.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on shares of Caesars Entertainment from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Susquehanna boosted their target price on shares of Caesars Entertainment from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Stifel Nicolaus dropped their price target on Caesars Entertainment from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays boosted their price objective on Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.00.

Caesars Entertainment Price Performance

Shares of NASDAQ:CZR traded up $1.11 during trading on Monday, reaching $29.61. 5,734,808 shares of the company traded hands, compared to its average volume of 4,919,360. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 5.84. Caesars Entertainment has a 52 week low of $21.40 and a 52 week high of $45.93. The firm has a market capitalization of $6.16 billion, a PE ratio of -27.16, a PEG ratio of 1.39 and a beta of 2.31. The company's 50 day moving average is $27.47 and its two-hundred day moving average is $30.45.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.35). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The business's revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted ($0.73) EPS. As a group, sell-side analysts predict that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently modified their holdings of the stock. Cannell Capital LLC bought a new position in shares of Caesars Entertainment during the 4th quarter worth about $13,498,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Caesars Entertainment by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company's stock valued at $62,728,000 after acquiring an additional 11,671 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Caesars Entertainment by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 803,138 shares of the company's stock worth $26,840,000 after purchasing an additional 38,505 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Caesars Entertainment by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,364,859 shares of the company's stock worth $780,854,000 after purchasing an additional 100,263 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new stake in Caesars Entertainment during the 4th quarter valued at $504,000. 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.