Caesars Entertainment (NASDAQ:CZR) Posts Earnings Results, Beats Expectations By $0.20 EPS

Caesars Entertainment (NASDAQ:CZR) released its earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20, Zacks reports. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion.

Caesars Entertainment Stock Performance

Shares of Caesars Entertainment stock opened at $34.87 on Wednesday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -20.88 and a beta of 2.90. The stock’s 50-day moving average is $34.67 and its 200-day moving average is $37.87. Caesars Entertainment has a one year low of $30.78 and a one year high of $45.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CZR. Macquarie reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. TD Cowen decreased their price objective on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Stifel Nicolaus decreased their price objective on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.21.

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.