B. Riley Equities Analysts Cut Earnings Estimates for Caesars Entertainment, Inc. (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) – Stock analysts at B. Riley lowered their Q3 2024 earnings per share estimates for Caesars Entertainment in a research note issued to investors on Monday, September 16th. B. Riley analyst D. Bain now expects that the company will earn $0.21 per share for the quarter, down from their prior forecast of $0.25. The consensus estimate for Caesars Entertainment’s current full-year earnings is $0.06 per share. B. Riley also issued estimates for Caesars Entertainment’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.27) EPS, Q2 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.36 EPS.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.68). The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative net margin of 2.44% and a negative return on equity of 2.57%. Caesars Entertainment’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS.

A number of other analysts have also recently commented on CZR. Stifel Nicolaus boosted their target price on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley cut their price objective on Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company raised their target price on Caesars Entertainment from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Susquehanna reiterated a “negative” rating and set a $33.00 price target on shares of Caesars Entertainment in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Caesars Entertainment Stock Up 3.3 %

Caesars Entertainment stock opened at $41.58 on Thursday. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.70 and a quick ratio of 0.68. The stock has a market capitalization of $9.00 billion, a PE ratio of 11.83 and a beta of 2.96. The business has a 50 day simple moving average of $36.92 and a 200-day simple moving average of $37.88. Caesars Entertainment has a 12 month low of $31.74 and a 12 month high of $51.24.

Institutional Trading of Caesars Entertainment

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Caesars Entertainment by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after purchasing an additional 75,898 shares in the last quarter. Capital Research Global Investors grew its position in shares of Caesars Entertainment by 26.9% during the first quarter. Capital Research Global Investors now owns 15,505,033 shares of the company’s stock worth $678,190,000 after buying an additional 3,289,748 shares in the last quarter. Capital World Investors increased its stake in shares of Caesars Entertainment by 9.1% during the fourth quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock worth $516,826,000 after buying an additional 916,282 shares during the period. Janus Henderson Group PLC raised its holdings in Caesars Entertainment by 2.5% in the first quarter. Janus Henderson Group PLC now owns 9,616,712 shares of the company’s stock valued at $420,633,000 after acquiring an additional 233,250 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in Caesars Entertainment by 1.0% in the second quarter. EdgePoint Investment Group Inc. now owns 5,859,251 shares of the company’s stock valued at $232,847,000 after acquiring an additional 60,184 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Caesars Entertainment Company Profile

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.