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

JPMorgan Chase & Co. started coverage on shares of Caesars Entertainment (NASDAQ:CZRGet Rating) in a research report report published on Tuesday morning, The Fly reports. The firm issued an overweight rating on the stock.

A number of other research firms also recently issued reports on CZR. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Caesars Entertainment from $105.00 to $90.00 in a report on Monday, June 6th. Bank of America lowered their price objective on shares of Caesars Entertainment from $110.00 to $95.00 and set a buy rating on the stock in a report on Monday, April 18th. Morgan Stanley lowered their price objective on shares of Caesars Entertainment from $122.00 to $99.00 and set an overweight rating on the stock in a report on Monday, April 25th. Wells Fargo & Company decreased their target price on shares of Caesars Entertainment from $105.00 to $103.00 and set an overweight rating for the company in a research note on Wednesday, April 13th. Finally, Stifel Nicolaus decreased their target price on shares of Caesars Entertainment from $127.00 to $113.00 in a research note on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $118.23.

Shares of CZR stock opened at $39.52 on Tuesday. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.99 and a current ratio of 1.00. The company has a market capitalization of $8.47 billion, a P/E ratio of -6.62 and a beta of 2.82. The company’s 50 day moving average price is $53.65 and its two-hundred day moving average price is $71.87. Caesars Entertainment has a 52 week low of $37.03 and a 52 week high of $119.81.

Caesars Entertainment (NASDAQ:CZRGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported ($2.11) EPS for the quarter, topping the consensus estimate of ($2.15) by $0.04. Caesars Entertainment had a negative net margin of 12.66% and a negative return on equity of 17.77%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company posted ($2.06) EPS. The business’s quarterly revenue was up 34.9% on a year-over-year basis. Analysts forecast that Caesars Entertainment will post -1.09 earnings per share for the current year.

In related news, Director Courtney Mather purchased 16,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average price of $60.12 per share, with a total value of $961,920.00. Following the completion of the purchase, the director now directly owns 30,160 shares in the company, valued at $1,813,219.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Fahrenkopf, Jr. sold 2,695 shares of the business’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $52.00, for a total value of $140,140.00. The disclosure for this sale can be found here. In the last three months, insiders bought 22,500 shares of company stock valued at $1,215,570. 0.55% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Caesars Entertainment by 67.4% during the third quarter. Franklin Resources Inc. now owns 6,268 shares of the company’s stock worth $703,000 after acquiring an additional 2,523 shares in the last quarter. MML Investors Services LLC raised its stake in Caesars Entertainment by 11.4% during the third quarter. MML Investors Services LLC now owns 7,569 shares of the company’s stock worth $850,000 after acquiring an additional 772 shares in the last quarter. Cetera Advisors LLC raised its stake in Caesars Entertainment by 101.1% during the third quarter. Cetera Advisors LLC now owns 17,530 shares of the company’s stock worth $1,968,000 after acquiring an additional 8,813 shares in the last quarter. Captrust Financial Advisors raised its stake in Caesars Entertainment by 181.8% during the third quarter. Captrust Financial Advisors now owns 1,857 shares of the company’s stock worth $209,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Caesars Entertainment during the third quarter worth about $600,000. 94.75% of the stock is owned by institutional investors and hedge funds.

Caesars Entertainment Company Profile (Get Rating)

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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