Equities Analysts Set Expectations for Caesars Entertainment Co.’s FY2019 Earnings (NASDAQ:CZR)

Caesars Entertainment Co. (NASDAQ:CZR) – Equities research analysts at Jefferies Financial Group upped their FY2019 earnings per share estimates for Caesars Entertainment in a report released on Tuesday, November 5th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of ($0.74) for the year, up from their prior estimate of ($0.79). Jefferies Financial Group also issued estimates for Caesars Entertainment’s Q4 2019 earnings at ($0.06) EPS, Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at $0.12 EPS, Q3 2020 earnings at $0.05 EPS, Q4 2020 earnings at $0.00 EPS and FY2020 earnings at $0.17 EPS.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.49). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.21 billion. Caesars Entertainment had a negative return on equity of 13.30% and a negative net margin of 7.98%. Caesars Entertainment’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share.

Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Caesars Entertainment from a “c-” rating to a “d+” rating in a research note on Tuesday, October 29th. BidaskClub cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Zacks Investment Research raised shares of Caesars Entertainment from a “sell” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday. Deutsche Bank set a $13.00 price target on shares of Caesars Entertainment and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, ValuEngine cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Caesars Entertainment has an average rating of “Hold” and an average price target of $11.97.

Shares of CZR opened at $12.71 on Friday. The stock has a market capitalization of $8.35 billion, a P/E ratio of -66.89 and a beta of 1.50. Caesars Entertainment has a twelve month low of $5.84 and a twelve month high of $12.83. The company has a 50 day moving average of $11.98 and a 200-day moving average of $11.04. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 6.69.

In related news, VP Les Ottolenghi sold 17,375 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.49, for a total value of $199,638.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 52,114 shares of company stock valued at $597,753 over the last three months. 0.51% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in CZR. Myriad Asset Management Ltd. acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $165,000. Capital Fund Management S.A. acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $1,391,000. Cetera Advisors LLC acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $186,000. Athanor Capital LP acquired a new stake in Caesars Entertainment during the 2nd quarter valued at $5,201,000. Finally, Aperio Group LLC lifted its holdings in Caesars Entertainment by 1.2% during the 2nd quarter. Aperio Group LLC now owns 105,814 shares of the company’s stock valued at $1,251,000 after purchasing an additional 1,253 shares during the last quarter.

About Caesars Entertainment

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.

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

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