B. Riley Expects Weaker Earnings for Caesars Entertainment

Caesars Entertainment, Inc. (NASDAQ:CZR) – Stock analysts at B. Riley dropped their FY2024 EPS estimates for Caesars Entertainment in a research 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 previous 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.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Caesars Entertainment from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays decreased their price objective on Caesars Entertainment from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday. Susquehanna reiterated a “negative” rating and issued a $33.00 price objective on shares of Caesars Entertainment in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Caesars Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Caesars Entertainment Stock Performance

CZR opened at $39.22 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. Caesars Entertainment has a 12-month low of $31.74 and a 12-month high of $50.51. The business has a 50 day moving average of $41.07 and a 200-day moving average of $38.18. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -23.48 and a beta of 2.97.

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). Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Caesars Entertainment by 525.3% during the second quarter. Blue Trust Inc. now owns 594 shares of the company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. UMB Bank n.a. bought a new stake in Caesars Entertainment during the 3rd quarter worth $51,000. GAMMA Investing LLC grew its position in Caesars Entertainment by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $64,000 after acquiring an additional 622 shares during the last quarter. Signaturefd LLC increased its holdings in Caesars Entertainment by 77.0% in the 2nd quarter. Signaturefd LLC now owns 2,540 shares of the company’s stock worth $101,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Assetmark Inc. raised its position in Caesars Entertainment by 8.0% in the third quarter. Assetmark Inc. now owns 3,447 shares of the company’s stock valued at $144,000 after purchasing an additional 256 shares during 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.