B. Riley Research Analysts Lower Earnings Estimates for CZR

Caesars Entertainment, Inc. (NASDAQ:CZR) – Investment analysts at B. Riley cut their FY2024 EPS estimates for Caesars Entertainment in a report issued on Wednesday, October 30th. B. Riley analyst D. Bain now forecasts that the company will post earnings per share of ($0.53) for the year, down from their prior estimate of ($0.27). The consensus estimate for Caesars Entertainment’s current full-year earnings is ($0.35) per share. B. Riley also issued estimates for Caesars Entertainment’s Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.20 EPS and Q3 2025 earnings at $0.40 EPS.

CZR has been the topic of several other research reports. JPMorgan Chase & Co. increased their target price on Caesars Entertainment from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna reiterated a “negative” rating and issued a $33.00 target price on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of Caesars Entertainment in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group decreased their price objective on Caesars Entertainment from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $39.22 on Friday. The company has a market cap of $8.33 billion, a PE ratio of -23.48 and a beta of 2.97. The firm’s 50 day moving average price is $41.09 and its 200-day moving average price is $38.17. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.68 and a current ratio of 0.84. Caesars Entertainment has a 52-week low of $31.74 and a 52-week high of $50.51.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.93 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 0.3% in the first quarter. Vanguard Group Inc. now owns 23,635,788 shares of the company’s stock worth $1,033,829,000 after acquiring an additional 75,898 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Caesars Entertainment by 270.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,332 shares of the company’s stock valued at $1,239,000 after purchasing an additional 20,692 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Caesars Entertainment by 201.8% in the first quarter. Illinois Municipal Retirement Fund now owns 60,593 shares of the company’s stock valued at $2,650,000 after buying an additional 40,517 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Caesars Entertainment by 249.0% during the 1st quarter. Russell Investments Group Ltd. now owns 186,019 shares of the company’s stock worth $8,131,000 after buying an additional 132,720 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Caesars Entertainment by 263.2% during the 1st quarter. Sei Investments Co. now owns 345,481 shares of the company’s stock valued at $15,111,000 after buying an additional 250,354 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

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.