Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) – Analysts at Jefferies Financial Group raised their Q2 2022 earnings estimates for shares of Caesars Entertainment in a report issued on Wednesday, May 4th. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings per share of $0.87 for the quarter, up from their previous estimate of $0.60. Jefferies Financial Group also issued estimates for Caesars Entertainment’s Q3 2022 earnings at $0.93 EPS, Q4 2022 earnings at $0.82 EPS, FY2022 earnings at $0.52 EPS and FY2023 earnings at $4.37 EPS.
Caesars Entertainment (NASDAQ:CZR – Get Rating) last released its earnings results on Tuesday, May 3rd. The company reported ($3.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.65) by ($1.53). The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. Caesars Entertainment had a negative return on equity of 16.83% and a negative net margin of 12.66%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the company posted ($2.06) earnings per share.
Caesars Entertainment stock opened at $62.95 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 3.02. Caesars Entertainment has a 12 month low of $61.49 and a 12 month high of $119.81. The stock has a 50-day moving average price of $73.80 and a two-hundred day moving average price of $85.06.
Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its stake in shares of Caesars Entertainment by 44.7% during the 1st quarter. First Trust Advisors LP now owns 637,174 shares of the company’s stock valued at $5,537,000 after purchasing an additional 196,890 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Caesars Entertainment by 208.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,076 shares of the company’s stock worth $907,000 after buying an additional 5,454 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Caesars Entertainment by 28.5% during the third quarter. Advisor Group Holdings Inc. now owns 38,057 shares of the company’s stock worth $4,273,000 after buying an additional 8,436 shares in the last quarter. Boston Partners grew its position in Caesars Entertainment by 0.7% during the third quarter. Boston Partners now owns 22,036 shares of the company’s stock worth $2,474,000 after buying an additional 160 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Caesars Entertainment by 40.2% during the third quarter. Meeder Asset Management Inc. now owns 670 shares of the company’s stock worth $75,000 after buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.
In other Caesars Entertainment news, Director Michael E. Pegram acquired 13,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were acquired at an average price of $68.89 per share, with a total value of $895,570.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra Douglass Morgan sold 756 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $79.28, for a total value of $59,935.68. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.
Caesars Entertainment Company Profile (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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