Brokerages Expect Caesars Entertainment Co. (CZR) to Announce -$0.03 EPS

Equities analysts expect that Caesars Entertainment Co. (NASDAQ:CZR) will report earnings of ($0.03) per share for the current quarter, according to Zacks. Five analysts have made estimates for Caesars Entertainment’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at $0.03. Caesars Entertainment posted earnings of ($1.19) per share during the same quarter last year, which would suggest a positive year over year growth rate of 97.5%. The business is scheduled to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Caesars Entertainment will report full year earnings of ($0.06) per share for the current year, with EPS estimates ranging from ($0.10) to $0.00. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.03 per share, with EPS estimates ranging from ($0.15) to $0.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. Caesars Entertainment had a net margin of 21.90% and a negative return on equity of 4.71%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the company earned ($9.62) earnings per share. The firm’s revenue was up 110.2% compared to the same quarter last year.

A number of research firms have recently issued reports on CZR. BidaskClub downgraded shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Monday, September 24th. ValuEngine upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Bank of America lowered their target price on shares of Caesars Entertainment from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on shares of Caesars Entertainment in a report on Tuesday, September 11th. They set an “outperform” rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Caesars Entertainment has an average rating of “Hold” and an average target price of $13.44.

In related news, insider Mark P. Frissora acquired 100,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average cost of $9.55 per share, for a total transaction of $955,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric A. Hession acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was bought at an average price of $9.54 per share, for a total transaction of $95,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 125,000 shares of company stock worth $1,199,150. 0.92% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of Caesars Entertainment by 113.5% in the second quarter. Bank of New York Mellon Corp now owns 1,334,380 shares of the company’s stock valued at $14,278,000 after purchasing an additional 709,373 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Caesars Entertainment in the second quarter valued at $181,000. Long Pond Capital LP increased its holdings in shares of Caesars Entertainment by 6.2% in the second quarter. Long Pond Capital LP now owns 23,450,216 shares of the company’s stock valued at $250,917,000 after purchasing an additional 1,368,988 shares during the last quarter. Family Management Corp acquired a new position in shares of Caesars Entertainment in the second quarter valued at $261,000. Finally, Blackstone Group L.P. acquired a new position in shares of Caesars Entertainment in the first quarter valued at $47,836,000.

NASDAQ CZR opened at $9.03 on Wednesday. The company has a debt-to-equity ratio of 5.52, a quick ratio of 1.96 and a current ratio of 1.98. Caesars Entertainment has a 12-month low of $8.55 and a 12-month high of $14.50. The company has a market capitalization of $7.11 billion, a PE ratio of -2.68 and a beta of 0.52.

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 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.

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