B. Riley Weighs in on Caesars Entertainment, Inc.'s Q3 2024 Earnings (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) - Research analysts at B. Riley decreased their Q3 2024 earnings per share estimates for shares of Caesars Entertainment in a note issued to investors on Monday, September 16th. B. Riley analyst D. Bain now forecasts that the company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.25. The consensus estimate for Caesars Entertainment's current full-year earnings is $0.06 per share. B. Riley also issued estimates for Caesars Entertainment's Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.27) EPS, Q2 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.36 EPS.

A number of other brokerages also recently issued reports on CZR. StockNews.com downgraded Caesars Entertainment from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Susquehanna restated a "negative" rating and set a $33.00 target price on shares of Caesars Entertainment in a report on Wednesday, July 31st. Stifel Nicolaus lifted their price target on shares of Caesars Entertainment from $54.00 to $56.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Caesars Entertainment from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, JMP Securities raised their target price on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.14.

Caesars Entertainment Trading Up 3.3 %

CZR stock traded up $1.31 during midday trading on Thursday, hitting $41.58. The company had a trading volume of 4,426,085 shares, compared to its average volume of 4,223,533. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 11.83 and a beta of 2.96. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $51.24. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The stock's 50 day moving average price is $36.92 and its 200 day moving average price is $37.88.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis.

Hedge Funds Weigh In On Caesars Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company's stock valued at $26,000 after buying an additional 499 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Caesars Entertainment during the 4th quarter valued at $46,000. Mather Group LLC. bought a new stake in shares of Caesars Entertainment during the 1st quarter valued at $53,000. TFO Wealth Partners LLC increased its stake in shares of Caesars Entertainment by 22,920.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company's stock worth $54,000 after purchasing an additional 1,146 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Caesars Entertainment by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $64,000 after purchasing an additional 622 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

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.