Caesars Entertainment (NASDAQ:CZR) Posts Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Caesars Entertainment (NASDAQ:CZR - Get Free Report) released its earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.25), Briefing.com reports. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the firm earned $0.34 EPS. The firm's revenue was down 4.0% on a year-over-year basis.

Caesars Entertainment Trading Down 8.2 %

NASDAQ CZR traded down $3.72 during trading hours on Wednesday, hitting $41.57. The company's stock had a trading volume of 10,647,666 shares, compared to its average volume of 4,166,162. The stock has a fifty day moving average of $40.90 and a 200 day moving average of $38.14. Caesars Entertainment has a twelve month low of $31.74 and a twelve month high of $50.51. The firm has a market capitalization of $9.00 billion, a P/E ratio of 11.77 and a beta of 2.97. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.56.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CZR. JPMorgan Chase & Co. boosted their price objective on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of Caesars Entertainment from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. StockNews.com cut shares of Caesars Entertainment from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Finally, Macquarie reissued an "outperform" rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.00.

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.