FY2024 EPS Forecast for Caesars Entertainment Cut by Analyst

Caesars Entertainment, Inc. (NASDAQ:CZR) – Research analysts at B. Riley reduced their FY2024 earnings estimates for shares of Caesars Entertainment in a research note issued to investors on Wednesday, October 30th. B. Riley analyst D. Bain now expects that the company will earn ($0.53) per share for the year, down from their previous forecast of ($0.27). The consensus estimate for Caesars Entertainment’s current full-year earnings is ($0.35) per share. B. Riley also issued estimates for Caesars Entertainment’s Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.20 EPS and Q3 2025 earnings at $0.40 EPS.

A number of other brokerages also recently issued reports on CZR. StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $59.00 price target on shares of Caesars Entertainment in a report on Monday, October 14th. Barclays lowered their price objective on shares of Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday. Susquehanna reissued a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Caesars Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Caesars Entertainment Stock Performance

Shares of CZR opened at $40.05 on Friday. The company has a 50-day simple moving average of $41.00 and a 200-day simple moving average of $38.17. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.25). The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently made changes to their positions in CZR. Capital Research Global Investors raised its stake in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock valued at $678,190,000 after purchasing an additional 3,289,748 shares during the period. Nut Tree Capital Management LP grew its position in shares of Caesars Entertainment by 340.0% during the first quarter. Nut Tree Capital Management LP now owns 2,200,000 shares of the company’s stock worth $96,228,000 after buying an additional 1,700,000 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Caesars Entertainment by 35.4% during the first quarter. EdgePoint Investment Group Inc. now owns 5,799,067 shares of the company’s stock worth $253,651,000 after buying an additional 1,515,763 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Caesars Entertainment by 6,568.4% during the third quarter. SG Americas Securities LLC now owns 1,439,911 shares of the company’s stock worth $60,102,000 after buying an additional 1,418,318 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new stake in shares of Caesars Entertainment during the second quarter worth approximately $37,763,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.