Zacks Research Comments on Caesars Entertainment, Inc.’s Q2 2023 Earnings (NASDAQ:CZR)

Posted by on May 20th, 2023

Caesars Entertainment, Inc. (NASDAQ:CZR – Get Rating) – Zacks Research reduced their Q2 2023 EPS estimates for Caesars Entertainment in a research report issued to clients and investors on Tuesday, May 16th. Zacks Research analyst H. Ray now anticipates that the company will earn $0.17 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Caesars Entertainment’s current full-year earnings is $0.93 per share. Zacks Research also issued estimates for Caesars Entertainment’s Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.17 EPS and Q3 2024 earnings at $0.23 EPS.

Caesars Entertainment (NASDAQ:CZR – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.82 billion. Caesars Entertainment had a negative net margin of 3.13% and a positive return on equity of 2.24%.

Several other research analysts have also commented on CZR. StockNews.com started coverage on shares of Caesars Entertainment in a report on Thursday. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Caesars Entertainment from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Caesars Entertainment from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, January 24th. Wells Fargo & Company lifted their target price on shares of Caesars Entertainment from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Finally, Barclays boosted their price objective on shares of Caesars Entertainment from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.62.

Caesars Entertainment Price Performance

CZR opened at $43.79 on Friday. The company has a fifty day simple moving average of $44.51 and a 200 day simple moving average of $47.40. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of -26.38 and a beta of 2.89. Caesars Entertainment has a twelve month low of $31.31 and a twelve month high of $56.75. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 7.03.

Institutional Investors Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Aspire Private Capital LLC increased its position in Caesars Entertainment by 172.8% during the 4th quarter. Aspire Private Capital LLC now owns 401 shares of the company’s stock valued at $16,681,600,000 after purchasing an additional 254 shares during the period. Hexagon Capital Partners LLC increased its holdings in Caesars Entertainment by 5,000.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 510 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Garda Capital Partners LP purchased a new stake in Caesars Entertainment in the 1st quarter worth about $37,000. Wipfli Financial Advisors LLC bought a new position in Caesars Entertainment in the 3rd quarter worth about $25,000. Finally, Elequin Securities LLC bought a new position in Caesars Entertainment in the 4th quarter worth about $32,000. Institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling at Caesars Entertainment

In other Caesars Entertainment news, Director Michael E. Pegram acquired 25,000 shares of the stock in a transaction dated Friday, May 5th. The shares were bought at an average cost of $45.02 per share, for a total transaction of $1,125,500.00. Following the completion of the acquisition, the director now directly owns 121,697 shares of the company’s stock, valued at $5,478,798.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Caesars Entertainment Company Profile

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Caesars Holdings, Inc is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.

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Earnings History and Estimates for Caesars Entertainment (NASDAQ:CZR)

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