JPMorgan Chase & Co. Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Key Points

• JPMorgan Chase & Co. cut its price target on Caesars from $36 to $35 but maintained an "overweight" rating, implying roughly a 26.7% upside from the current share price.
• Caesars posted a large quarterly EPS miss of ($1.23) vs. ($0.18) expected, alongside negative net margin and ROE and a high leverage level with a debt-to-equity ratio of 3.17.
• Analyst sentiment is mixed—nine Buys, seven Holds and one Sell—resulting in a consensus rating of Hold and an average price target of $32.73.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its target price lowered by analysts at JPMorgan Chase & Co. from $36.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 26.67% from the stock's current price.

CZR has been the subject of a number of other research reports. Susquehanna upgraded shares of Caesars Entertainment from a "neutral" rating to a "positive" rating and upped their price objective for the company from $25.00 to $31.00 in a research report on Thursday, January 8th. Citigroup upped their price objective on shares of Caesars Entertainment from $23.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays lowered their price objective on shares of Caesars Entertainment from $39.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Weiss Ratings restated a "sell (e+)" rating on shares of Caesars Entertainment in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Caesars Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Caesars Entertainment presently has a consensus rating of "Hold" and a consensus price target of $32.73.

Caesars Entertainment Trading Up 1.2%

Shares of NASDAQ:CZR traded up $0.34 during mid-day trading on Thursday, reaching $27.63. The stock had a trading volume of 1,724,814 shares, compared to its average volume of 5,867,780. The firm has a market cap of $5.62 billion, a PE ratio of -11.37 and a beta of 1.87. The firm has a 50 day simple moving average of $24.63 and a two-hundred day simple moving average of $23.43. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 3.17. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.05). Caesars Entertainment had a negative net margin of 4.37% and a negative return on equity of 7.97%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company earned $0.05 EPS. Caesars Entertainment's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in shares of Caesars Entertainment by 110.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 971 shares of the company's stock valued at $26,000 after acquiring an additional 510 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Caesars Entertainment by 456.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,119 shares of the company's stock valued at $26,000 after acquiring an additional 918 shares in the last quarter. Mather Group LLC. bought a new position in Caesars Entertainment during the third quarter worth about $28,000. Sunbelt Securities Inc. grew its holdings in Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company's stock worth $28,000 after purchasing an additional 672 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in Caesars Entertainment by 44.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,581 shares of the company's stock worth $37,000 after purchasing an additional 488 shares during the period. Institutional investors own 91.79% of the company's stock.

About Caesars Entertainment

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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