Caesars Entertainment (NASDAQ:CZR – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.35), FiscalAI reports. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Caesars Entertainment had a negative return on equity of 7.88% and a negative net margin of 4.19%.
Caesars Entertainment Trading Down 0.1%
CZR stock traded down $0.02 on Tuesday, reaching $29.95. The company’s stock had a trading volume of 2,072,722 shares, compared to its average volume of 6,041,075. The firm has a market cap of $6.10 billion, a PE ratio of -12.64 and a beta of 1.76. The business has a fifty day simple moving average of $29.48 and a two-hundred day simple moving average of $26.54. Caesars Entertainment has a 12-month low of $17.86 and a 12-month high of $30.88. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.83 and a current ratio of 0.85.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on CZR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesars Entertainment in a research report on Monday, May 18th. Texas Capital lowered shares of Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $31.00 price objective (down from $35.00) on shares of Caesars Entertainment in a research note on Friday, May 29th. Capital One Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.00.
Insider Transactions at Caesars Entertainment
In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total transaction of $2,393,962.10. Following the transaction, the insider owned 18,263 shares in the company, valued at approximately $536,019.05. This represents a 81.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Pegram sold 55,000 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $1,606,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 293,463 shares of company stock valued at $8,609,241. 1.18% of the stock is owned by insiders.
Hedge Funds Weigh In On Caesars Entertainment
Large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in shares of Caesars Entertainment by 47.7% in the first quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after buying an additional 12,698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caesars Entertainment by 8.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after acquiring an additional 1,623 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Caesars Entertainment by 106.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after acquiring an additional 826,356 shares during the last quarter. Woodline Partners LP lifted its position in Caesars Entertainment by 40.7% in the 1st quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after acquiring an additional 5,192 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caesars Entertainment by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after acquiring an additional 3,198 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 Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.
The company traces its lineage to the founding of Harrah’s by William F.
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