B. Riley Comments on Caesars Entertainment, Inc.’s Q3 2024 Earnings (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) – B. Riley cut their Q3 2024 EPS estimates for shares of Caesars Entertainment in a research report issued on Monday, September 16th. B. Riley analyst D. Bain now forecasts that the company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.25. The consensus estimate for Caesars Entertainment’s current full-year earnings is $0.06 per share. B. Riley also issued estimates for Caesars Entertainment’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.27) EPS, Q2 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.36 EPS.

Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Susquehanna reiterated a “negative” rating and set a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their target price on Caesars Entertainment from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.14.

Caesars Entertainment Stock Performance

Caesars Entertainment stock opened at $41.45 on Thursday. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $50.51. The company has a market capitalization of $8.97 billion, a PE ratio of 11.44 and a beta of 2.96. The company has a 50 day moving average price of $36.98 and a 200-day moving average price of $37.90. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70.

Institutional Trading of Caesars Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock valued at $1,033,829,000 after buying an additional 75,898 shares in the last quarter. Capital Research Global Investors raised its holdings in Caesars Entertainment by 26.9% in the 1st quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after purchasing an additional 3,289,748 shares during the period. Capital World Investors boosted its position in Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after purchasing an additional 916,282 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after purchasing an additional 233,250 shares during the period. Finally, EdgePoint Investment Group Inc. increased its position in shares of Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after buying an additional 60,184 shares in the last quarter. 91.79% of the stock is 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.