Caesars Entertainment (NASDAQ:CZR) Releases Quarterly Earnings Results, Misses Expectations By $0.49 EPS

Caesars Entertainment (NASDAQ:CZR) released its earnings results on Tuesday. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.49), FiscalAI reports. Caesars Entertainment had a negative return on equity of 7.64% and a negative net margin of 3.99%. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion.

Caesars Entertainment Price Performance

CZR traded down $0.14 during trading hours on Tuesday, hitting $28.85. The company’s stock had a trading volume of 6,267,768 shares, compared to its average volume of 5,668,972. The business’s 50-day moving average price is $29.53 and its 200-day moving average price is $27.53. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $30.88. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -12.65 and a beta of 1.85. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.70.

Insider Buying and Selling at Caesars Entertainment

In other news, CMO Josh Jones sold 59,507 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $29.72, for a total value of $1,768,548.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bret Yunker sold 208,134 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 322,682 shares of company stock worth $9,565,403 over the last three months. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CZR. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Barclays reiterated an “equal weight” rating and issued a $31.00 price target (down from $35.00) on shares of Caesars Entertainment in a research note on Thursday, July 9th. Capital One Financial downgraded shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Susquehanna restated a “neutral” rating on shares of Caesars Entertainment in a research report on Monday. Finally, TD Cowen cut Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has an average rating of “Hold” and a consensus price target of $30.71.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc is a gaming, hospitality and entertainment company that operates casino resorts and related businesses primarily in the United States. Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and convention facilities, and other leisure amenities.

The company operates well-known destinations in Las Vegas, including Caesars Palace, Paris Las Vegas, Planet Hollywood Resort & Casino, and The Cromwell, as well as regional casinos and resorts across several U.S.