Caesars Entertainment (NASDAQ:CZR) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Caesars Entertainment (NASDAQ:CZR) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $47.00 price target on the stock.

CZR has been the subject of several other reports. Susquehanna boosted their price target on Caesars Entertainment from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Capital One Financial upgraded Caesars Entertainment from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Stifel Nicolaus cut 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. Wells Fargo & Company cut their target price on Caesars Entertainment from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut their target price on Caesars Entertainment from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $28.60 on Monday. Caesars Entertainment has a 12 month low of $21.40 and a 12 month high of $45.93. The stock’s 50 day moving average is $27.63 and its 200-day moving average is $30.43. 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 company has a market capitalization of $5.95 billion, a price-to-earnings ratio of -26.24, a PEG ratio of 1.91 and a beta of 2.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Caesars Entertainment by 38.8% in the first quarter. Rhumbline Advisers now owns 424,448 shares of the company’s stock valued at $10,611,000 after purchasing an additional 118,581 shares during the period. Strs Ohio acquired a new stake in Caesars Entertainment in the first quarter valued at $14,535,000. Focus Partners Wealth increased its holdings in Caesars Entertainment by 60.4% in the first quarter. Focus Partners Wealth now owns 40,511 shares of the company’s stock valued at $1,013,000 after purchasing an additional 15,248 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after purchasing an additional 3,198 shares during the period. Finally, Palogic Value Management L.P. increased its holdings in Caesars Entertainment by 20.4% in the first quarter. Palogic Value Management L.P. now owns 8,339 shares of the company’s stock valued at $208,000 after purchasing an additional 1,415 shares during the period. 91.79% of the stock is currently owned by institutional investors and hedge funds.

About Caesars Entertainment

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.