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

Caesars Entertainment (NASDAQ:CZR) issued 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 net margin of 3.99% and a negative return on equity of 7.64%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.96 billion.

Caesars Entertainment Price Performance

Caesars Entertainment stock traded down $0.14 during mid-day trading on Tuesday, reaching $28.85. 6,270,856 shares of the company were exchanged, compared to its average volume of 5,676,379. The company has a fifty day simple moving average of $29.53 and a 200-day simple moving average of $27.53. Caesars Entertainment has a 12 month low of $17.86 and a 12 month high of $30.88. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $5.88 billion, a PE ratio of -12.65 and a beta of 1.85.

Wall Street Analyst Weigh In

Several brokerages have commented on CZR. Susquehanna reissued a “neutral” rating on shares of Caesars Entertainment in a research report on Monday. Zacks Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, October 2nd. Barclays reiterated an “equal weight” rating and set a $31.00 target price (down from $35.00) on shares of Caesars Entertainment in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Thursday, August 13th. Finally, TD Cowen downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Wednesday, July 29th. Two 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.71.

Insider Activity

In related news, CFO Bret Yunker sold 208,134 shares of Caesars Entertainment stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.62, for a total transaction of $6,164,929.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Tomick sold 7,142 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $29.71, for a total transaction of $212,188.82. Following the transaction, the director owned 17,769 shares of the company’s stock, valued at $527,916.99. This trade represents a 28.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 322,682 shares of company stock worth $9,565,403. 1.18% of the stock is owned by company insiders.

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.