Caesars Entertainment Co. (NASDAQ:CZR) Expected to Announce Earnings of -$0.09 Per Share

Wall Street analysts forecast that Caesars Entertainment Co. (NASDAQ:CZR) will post ($0.09) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Caesars Entertainment’s earnings. The lowest EPS estimate is ($0.13) and the highest is ($0.05). Caesars Entertainment reported earnings of ($0.18) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The business is scheduled to report its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that Caesars Entertainment will report full-year earnings of ($1.40) per share for the current fiscal year, with EPS estimates ranging from ($1.42) to ($1.38). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.00 per share, with EPS estimates ranging from ($0.15) to $0.17. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last announced its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.49). Caesars Entertainment had a negative return on equity of 14.01% and a negative net margin of 7.98%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm posted $0.16 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TheStreet downgraded Caesars Entertainment from a “c-” rating to a “d+” rating in a report on Tuesday, October 29th. BidaskClub upgraded Caesars Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Deutsche Bank set a $13.00 price objective on Caesars Entertainment and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, ValuEngine cut Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.97.

Shares of CZR traded down $0.05 during mid-day trading on Thursday, hitting $12.88. 23,618,390 shares of the company traded hands, compared to its average volume of 19,389,740. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 7.52. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of -67.79 and a beta of 1.41. The business has a 50-day moving average of $12.61 and a 200 day moving average of $11.51. Caesars Entertainment has a one year low of $5.84 and a one year high of $13.13.

In related news, EVP Richard D. Broome sold 118,668 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.02, for a total transaction of $1,545,057.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Benninger sold 9,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $13.10, for a total transaction of $117,900.00. Following the completion of the transaction, the director now owns 28,960 shares in the company, valued at $379,376. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,273 shares of company stock worth $1,736,271. Corporate insiders own 0.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Caesars Entertainment during the second quarter worth about $26,000. Glassman Wealth Services acquired a new stake in shares of Caesars Entertainment in the 2nd quarter valued at approximately $54,000. Cerebellum GP LLC bought a new position in Caesars Entertainment during the 3rd quarter worth approximately $127,000. Creative Planning bought a new position in Caesars Entertainment during the 2nd quarter worth approximately $146,000. Finally, Claraphi Advisory Network LLC acquired a new position in Caesars Entertainment during the second quarter valued at approximately $147,000.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

Read More: How big is the FinTech market?

Get a free copy of the Zacks research report on Caesars Entertainment (CZR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Caesars Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesars Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.