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

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

Caesars Entertainment Stock Down 3.9 %

CZR opened at $43.50 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56. The firm has a market cap of $9.41 billion, a P/E ratio of 12.83 and a beta of 2.97. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $50.51. The business’s fifty day simple moving average is $40.90 and its 200 day simple moving average is $38.14.

Analyst Upgrades and Downgrades

CZR has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Barclays increased their price objective on Caesars Entertainment from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on Caesars Entertainment from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price objective on Caesars Entertainment from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and an average 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.