Zacks: Analysts Expect Caesars Entertainment, Inc. (NASDAQ:CZR) Will Post Earnings of $0.06 Per Share

Brokerages predict that Caesars Entertainment, Inc. (NASDAQ:CZR) will announce $0.06 earnings per share for the current quarter, according to Zacks. Five analysts have issued estimates for Caesars Entertainment’s earnings, with estimates ranging from ($0.23) to $0.75. Caesars Entertainment reported earnings of ($6.09) per share during the same quarter last year, which would indicate a positive year over year growth rate of 101%. The company is expected to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Caesars Entertainment will report full year earnings of ($1.62) per share for the current fiscal year, with EPS estimates ranging from ($2.30) to ($0.44). For the next year, analysts expect that the firm will post earnings of $0.96 per share, with EPS estimates ranging from $0.01 to $2.66. Zacks’ EPS calculations are an average based on a survey of analysts that cover Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.74. Caesars Entertainment had a negative net margin of 25.91% and a negative return on equity of 38.37%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Caesars Entertainment in a research report on Tuesday, September 14th. They set an “overweight” rating and a $137.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Caesars Entertainment from $126.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, June 7th. Cowen raised their price target on shares of Caesars Entertainment from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. JPMorgan Chase & Co. raised their price target on shares of Caesars Entertainment from $120.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, June 10th. Finally, Stifel Nicolaus raised their price target on shares of Caesars Entertainment from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $114.75.

In related news, Director Michael E. Pegram sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $110.48, for a total transaction of $552,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edmund L. Quatmann, Jr. sold 842 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $90.83, for a total transaction of $76,478.86. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CZR. First Trust Advisors LP increased its holdings in Caesars Entertainment by 44.7% during the first quarter. First Trust Advisors LP now owns 637,174 shares of the company’s stock worth $5,537,000 after buying an additional 196,890 shares during the last quarter. US Bancorp DE increased its holdings in Caesars Entertainment by 37.2% during the first quarter. US Bancorp DE now owns 1,365 shares of the company’s stock worth $119,000 after buying an additional 370 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Caesars Entertainment during the first quarter worth about $106,000. Commonwealth Equity Services LLC increased its holdings in Caesars Entertainment by 1.8% during the first quarter. Commonwealth Equity Services LLC now owns 9,597 shares of the company’s stock worth $839,000 after buying an additional 173 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Caesars Entertainment by 8.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,136 shares of the company’s stock worth $4,472,000 after buying an additional 3,768 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Shares of CZR traded up $4.31 during trading hours on Friday, hitting $109.35. 66,188 shares of the stock were exchanged, compared to its average volume of 3,112,780. Caesars Entertainment has a fifty-two week low of $43.07 and a fifty-two week high of $113.46. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.16 and a quick ratio of 1.15. The business has a 50-day moving average of $95.55 and a 200-day moving average of $97.64. The firm has a market capitalization of $23.34 billion, a P/E ratio of -10.84 and a beta of 3.20.

Caesars Entertainment Company Profile

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Earnings History and Estimates for Caesars Entertainment (NASDAQ:CZR)

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