JPMorgan Chase & Co. Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $35.00

Caesars Entertainment (NASDAQ:CZR) had its price objective reduced by JPMorgan Chase & Co. from $36.00 to $35.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Citigroup increased their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday. Citizens Jmp lowered their target price on Caesars Entertainment from $37.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Truist Financial dropped their price target on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and increased their price target for the stock from $25.00 to $31.00 in a research note on Thursday, January 8th. Finally, TD Cowen reissued a “buy” rating on shares of Caesars Entertainment in a report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Caesars Entertainment Stock Down 1.7%

CZR opened at $27.22 on Thursday. Caesars Entertainment has a twelve month low of $17.86 and a twelve month high of $31.58. The company’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $23.43. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -11.20 and a beta of 1.87. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, equities analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Caesars Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of CZR. AQR Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after acquiring an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock valued at $496,000 after purchasing an additional 1,623 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Caesars Entertainment by 106.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after purchasing an additional 826,356 shares in the last quarter. Woodline Partners LP lifted its holdings in Caesars Entertainment by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock worth $449,000 after purchasing an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Caesars Entertainment by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock worth $12,665,000 after purchasing an additional 3,198 shares during the period. Institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.