Caesars Entertainment (CZR) Set to Announce Earnings on Tuesday

Caesars Entertainment (NASDAQ:CZR – Get Rating) is scheduled to be releasing its earnings data after the market closes on Tuesday, May 3rd. Analysts expect Caesars Entertainment to post earnings of ($1.65) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last posted its earnings results on Tuesday, February 22nd. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by ($0.33). The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. Caesars Entertainment had a negative net margin of 10.74% and a negative return on equity of 16.61%. Caesars Entertainment’s revenue was up 72.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.70) EPS. On average, analysts expect Caesars Entertainment to post $-1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CZR opened at $68.50 on Tuesday. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.12 and a current ratio of 1.13. The stock has a market capitalization of $14.67 billion, a P/E ratio of -14.21 and a beta of 2.87. The company’s 50-day simple moving average is $76.25 and its two-hundred day simple moving average is $87.37. Caesars Entertainment has a 52-week low of $64.60 and a 52-week high of $119.81.

CZR has been the topic of several research analyst reports. Loop Capital upped their target price on shares of Caesars Entertainment from $99.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, February 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Caesars Entertainment from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 21st. Truist Financial lowered their price objective on shares of Caesars Entertainment from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. Cowen lowered their price objective on shares of Caesars Entertainment from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. Finally, Jefferies Financial Group lowered their price objective on shares of Caesars Entertainment from $134.00 to $125.00 in a research note on Friday, January 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $117.47.

In related news, Director Sandra Douglass Morgan sold 756 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $79.28, for a total value of $59,935.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Reeg bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were acquired at an average price of $71.38 per share, with a total value of $713,800.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 8,109 shares of company stock valued at $645,511. Insiders own 0.55% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Allstate Corp acquired a new position in Caesars Entertainment during the 4th quarter worth about $2,332,000. Schonfeld Strategic Advisors LLC acquired a new position in Caesars Entertainment during the fourth quarter worth $1,134,000. MML Investors Services LLC raised its holdings in shares of Caesars Entertainment by 10.5% in the fourth quarter. MML Investors Services LLC now owns 8,365 shares of the company’s stock worth $782,000 after acquiring an additional 796 shares during the last quarter. JustInvest LLC raised its holdings in shares of Caesars Entertainment by 43.4% in the fourth quarter. JustInvest LLC now owns 5,603 shares of the company’s stock worth $524,000 after acquiring an additional 1,697 shares during the last quarter. Finally, Synovus Financial Corp grew its position in shares of Caesars Entertainment by 4.1% in the fourth quarter. Synovus Financial Corp now owns 3,967 shares of the company’s stock valued at $365,000 after purchasing an additional 155 shares during the period. 93.55% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment (Get Rating)

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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