Caesars Entertainment Corporation (NASDAQ:CZR) is reporting third quarter earnings results on Thursday 5th November 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 2.15 per share.
For the full year, analysts predict revenues of $ 4445.55 million, while looking forward to loss of $ 6.43 per share.
Previous Quarter Performance
Caesars Entertainment Corporation unveiled loss for the second quarter of $ 1.25 per share, from the revenue of $ 126.47 million. The quarterly revenues shrunk 94.31 percent compared with the same quarter last year. The consensus estimates are loss of $ 1.01 per share from $ 344.28 million in revenue. The bottom line results missed street analysts by $ 0.24 or 23.76 percent, at the same time, top line results fell short of analysts by $ 217.81 million or 63.27 percent.
Stock Performance
Shares of Caesars Entertainment Corporation traded up $ 2.09 or 4.17 percent on Wednesday, reaching $ 52.20 with volume of 2.85 million shares. Caesars Entertainment Corporation has traded high as $ 52.82 and has cracked $ 49.28 on the downward trend
The closing price of $ 52.20, representing a 732.39 % increase from the 52 week low of $ 6.02 and a 29.16 % decrease over the 52 week high of $ 70.74.
The company has a market capital of $ 10.65 billion and is part of the Consumer Cyclical sector and Resorts & Casinos industry.
Recent Analyst recommendations
- On 16th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 68.00 target price.
- On 22nd September 2020, maintained by Deutsche Bank at Buy rating, with $ 65.00 target price.
- On 14th September 2020, initiated by Goldman Sachs Group at Neutral rating, with $ 56.00 target price.
Conference Call
Caesars Entertainment Corporation will be hosting a conference call at 5:00 PM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.caesars.com
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service. As of December 31, 2018, it had 50 casinos, including 37 casinos in the United States and 13 casinos internationally with approximately 3 million square feet of gaming space and 40,000 hotel rooms.
