Caesars Entertainment (NASDAQ:CZR) Issues Quarterly Earnings Results

Caesars Entertainment (NASDAQ:CZR) posted its quarterly earnings data on Tuesday. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49), FiscalAI reports. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) earnings per share.

Caesars Entertainment Stock Down 1.0%

Caesars Entertainment stock opened at $28.57 on Thursday. The firm has a market capitalization of $5.82 billion, a PE ratio of -12.53 and a beta of 1.85. The company’s 50-day moving average is $29.49 and its 200-day moving average is $27.57. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CZR shares. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, October 2nd. Barclays downgraded Caesars Entertainment from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $31.00 in a research note on Thursday, July 9th. Weiss Ratings raised Caesars Entertainment from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday. Capital One Financial cut Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.54.

Insiders Place Their Bets

In other Caesars Entertainment news, CFO Bret Yunker sold 208,134 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Josh Jones sold 59,507 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 322,682 shares of company stock worth $9,565,403. Company insiders own 1.18% of the company’s stock.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company that operates casino resorts and related businesses primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other leisure amenities.

The company operates well-known destinations in Las Vegas, including Caesars Palace, Paris Las Vegas, Planet Hollywood Resort & Casino, and The Cromwell, as well as regional casinos and resorts across several U.S.