Caesars Entertainment (NASDAQ:CZR) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Caesars Entertainment (NASDAQ:CZR) released its earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.20, Zacks reports. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion.

Caesars Entertainment Stock Performance

Shares of CZR opened at $34.87 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a 50 day moving average price of $34.67 and a two-hundred day moving average price of $37.87. The firm has a market capitalization of $7.41 billion, a P/E ratio of -20.88 and a beta of 2.90. Caesars Entertainment has a 52 week low of $30.78 and a 52 week high of $45.93.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CZR shares. Barclays dropped their target price on Caesars Entertainment from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company dropped their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. TD Cowen dropped their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, Macquarie restated an “outperform” rating and issued a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.21.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.