Q3 2024 Earnings Forecast for Caesars Entertainment, Inc. Issued By B. Riley (NASDAQ:CZR)

Caesars Entertainment, Inc. (NASDAQ:CZR) – Equities researchers at B. Riley lowered their Q3 2024 earnings per share (EPS) estimates for shares of Caesars Entertainment in a research report issued on Monday, September 16th. B. Riley analyst D. Bain now expects that the company will post earnings of $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 released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.68). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS.

Other research analysts also recently issued reports about the stock. Morgan Stanley decreased their target price on shares of Caesars Entertainment from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. StockNews.com cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group cut their target price on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their price target on Caesars Entertainment from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JMP Securities lifted their price objective on Caesars Entertainment from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Caesars Entertainment Stock Performance

Shares of CZR stock opened at $40.27 on Thursday. The company has a market capitalization of $8.72 billion, a P/E ratio of 11.41 and a beta of 2.96. Caesars Entertainment has a fifty-two week low of $31.74 and a fifty-two week high of $51.24. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.68 and a current ratio of 0.70. The stock has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $37.86.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Caesars Entertainment by 525.3% in the 2nd quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after purchasing an additional 499 shares during the last quarter. Principal Securities Inc. purchased a new position in Caesars Entertainment in the fourth quarter worth about $46,000. Mather Group LLC. bought a new position in shares of Caesars Entertainment in the first quarter worth approximately $53,000. TFO Wealth Partners LLC grew its holdings in shares of Caesars Entertainment by 22,920.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,151 shares of the company’s stock valued at $54,000 after buying an additional 1,146 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Caesars Entertainment by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $64,000 after acquiring an additional 622 shares in the last quarter. 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.