Caesars Entertainment (NASDAQ:CZR) Issues Quarterly Earnings Results

Caesars Entertainment (NASDAQ:CZR) posted its quarterly earnings data on Tuesday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25), Briefing.com reports. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS.

Caesars Entertainment Stock Down 5.9 %

NASDAQ CZR traded down $2.69 on Wednesday, reaching $42.59. The company had a trading volume of 827,787 shares, compared to its average volume of 4,119,409. The company’s fifty day moving average is $40.90 and its 200-day moving average is $38.14. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $50.51. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 12.83 and a beta of 2.97. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70.

Analyst Ratings Changes

A number of research firms recently commented on CZR. Wells Fargo & Company upped their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Susquehanna reaffirmed a “negative” rating and issued a $33.00 price target on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays upped their target price on shares of Caesars Entertainment from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $59.00 target price on shares of Caesars Entertainment in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.54.

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.