Caesars Entertainment (NASDAQ:CZR) Issues Earnings Results, Misses Estimates By $0.46 EPS

Key Points

• Caesars Entertainment reported a quarterly earnings loss of ($0.39) EPS, missing analyst expectations by $0.59.
• The company's stock has a market cap of $5.92 billion and is currently trading at $28.47, down from its 12-month high of $45.93.
• Analysts show a consensus rating of "Moderate Buy" for Caesars Entertainment, with an average target price of $43.13.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46), Zacks reports. Caesars Entertainment had a negative return on equity of 4.55% and a negative net margin of 1.71%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned ($0.56) earnings per share. The company's revenue was up 2.7% on a year-over-year basis.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock traded down $1.00 during trading on Friday, reaching $25.68. 7,822,694 shares of the company's stock were exchanged, compared to its average volume of 5,481,769. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.82 and a current ratio of 0.82. Caesars Entertainment has a 1-year low of $21.40 and a 1-year high of $45.93. The company has a market cap of $5.34 billion, a P/E ratio of -27.91 and a beta of 2.40. The firm's 50-day moving average price is $28.37 and its 200 day moving average price is $29.58.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CZR. Cfra reissued a "hold" rating and set a $50.00 price target on shares of Caesars Entertainment in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on Caesars Entertainment from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Barclays decreased their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of Caesars Entertainment from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Macquarie decreased their target price on shares of Caesars Entertainment from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Caesars Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $42.53.

Institutional Trading of Caesars Entertainment

Several large investors have recently bought and sold shares of CZR. Goldman Sachs Group Inc. raised its stake in Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company's stock worth $39,982,000 after acquiring an additional 826,356 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Caesars Entertainment by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company's stock worth $12,665,000 after purchasing an additional 3,198 shares in the last quarter. Focus Partners Wealth lifted its stake in Caesars Entertainment by 60.4% in the 1st quarter. Focus Partners Wealth now owns 40,511 shares of the company's stock valued at $1,013,000 after purchasing an additional 15,248 shares during the last quarter. AQR Capital Management LLC boosted its position in Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company's stock valued at $953,000 after buying an additional 12,698 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caesars Entertainment by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company's stock worth $496,000 after buying an additional 1,623 shares during the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment

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.