Caesars Entertainment (NASDAQ:CZR) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

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. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $0.34 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis.

Caesars Entertainment Trading Down 3.6 %

NASDAQ CZR opened at $40.05 on Friday. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $50.51. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $8.51 billion, a PE ratio of -23.98 and a beta of 2.97. The firm’s fifty day simple moving average is $41.00 and its 200-day simple moving average is $38.17.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie restated an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research report on Wednesday. Jefferies Financial Group dropped their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Caesars Entertainment currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Company Profile

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.