JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment (NASDAQ:CZR - Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $47.00 to $48.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CZR has been the topic of several other research reports. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research report on Friday, July 18th. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a report on Monday, July 7th. They issued a "buy" rating and a $36.00 target price on the stock. Cfra reissued a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. Barclays raised their price objective on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Capital One Financial raised shares of Caesars Entertainment from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.13.

Caesars Entertainment Price Performance

NASDAQ:CZR traded up $0.82 during trading hours on Tuesday, reaching $29.48. 3,180,090 shares of the company were exchanged, compared to its average volume of 5,367,333. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 5.84. The stock's 50-day moving average is $28.48 and its 200-day moving average is $29.76. The firm has a market cap of $6.13 billion, a PE ratio of -27.02 and a beta of 2.29. Caesars Entertainment has a twelve month low of $21.40 and a twelve month high of $45.93.

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

Hedge Funds Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth $478,000. Quantbot Technologies LP boosted its position in shares of Caesars Entertainment by 27.1% in the 4th quarter. Quantbot Technologies LP now owns 31,982 shares of the company's stock worth $1,069,000 after buying an additional 6,822 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Caesars Entertainment in the 4th quarter worth about $818,000. Sei Investments Co. boosted its position in shares of Caesars Entertainment by 11.4% in the 4th quarter. Sei Investments Co. now owns 908,736 shares of the company's stock worth $30,370,000 after buying an additional 92,648 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position 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 buying an additional 100,263 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other 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.