Caesars Entertainment (NASDAQ:CZR) Issues Earnings Results

Key Points

• Caesars reported a striking $999.00 EPS, beating the consensus of ($0.19) by $999.19, yet the company still showed negative profitability metrics with a return on equity of -7.97% and a net margin of -4.37%.
• Shares fell about 2.5% to $27.32 on the day, with a market cap of $5.56 billion and trading volume below its recent average.
• Analysts are mixed—nine Buys, seven Holds and one Sell—with a consensus rating of "Hold" and a $32.93 target; institutional investors own 91.79% of the stock and the company carries a high debt-to-equity ratio of 3.17.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $999.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $999.19, Zacks reports. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.

Caesars Entertainment Stock Down 2.5%

NASDAQ CZR traded down $0.71 during midday trading on Tuesday, hitting $27.32. 2,017,049 shares of the company traded hands, compared to its average volume of 5,641,297. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.80 and a quick ratio of 0.78. The company has a market cap of $5.56 billion, a PE ratio of -11.24 and a beta of 1.87. The company's 50-day simple moving average is $25.92 and its 200-day simple moving average is $23.52. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Susquehanna raised Caesars Entertainment from a "neutral" rating to a "positive" rating and upped their target price for the company from $25.00 to $31.00 in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on Caesars Entertainment from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Truist Financial upped their target price on Caesars Entertainment from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Wells Fargo & Company upped their target price on Caesars Entertainment from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Finally, Citigroup increased their price objective on Caesars Entertainment from $23.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Caesars Entertainment presently has a consensus rating of "Hold" and a consensus target price of $32.93.

Institutional Trading of Caesars Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its position in Caesars Entertainment by 12.8% during the 4th quarter. Invesco Ltd. now owns 995,208 shares of the company's stock valued at $23,278,000 after acquiring an additional 112,691 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Caesars Entertainment during the 4th quarter worth $1,696,000. Mercer Global Advisors Inc. ADV purchased a new position in Caesars Entertainment during the 4th quarter worth $484,000. State of Tennessee Department of Treasury grew its stake in Caesars Entertainment by 125.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,824 shares of the company's stock worth $1,282,000 after buying an additional 30,536 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in Caesars Entertainment by 202.5% during the 4th quarter. XTX Topco Ltd now owns 64,427 shares of the company's stock worth $1,507,000 after buying an additional 43,126 shares during the last quarter. Institutional investors own 91.79% of the company's stock.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah's by William F.

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