Caesars Entertainment (NASDAQ:CZR) Announces Earnings Results, Misses Expectations By $0.25 EPS

Caesars Entertainment (NASDAQ:CZR) issued its quarterly earnings data on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25), Briefing.com reports. The business 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 4.44% and a negative net margin of 3.20%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share.

Caesars Entertainment Stock Performance

NASDAQ:CZR opened at $40.05 on Friday. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $50.51. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $8.51 billion, a PE ratio of -23.98 and a beta of 2.97. The firm has a 50-day moving average price of $41.00 and a 200 day moving average price of $38.17.

Wall Street Analysts Forecast Growth

CZR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays decreased their price target on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday. JMP Securities restated a “market outperform” rating and set a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Finally, Susquehanna restated a “negative” rating and set a $33.00 price target on shares of Caesars Entertainment in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

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.