What To Expect From Caesars Entertainment’s (CZR) Q4 Earnings
Hotel and casino entertainment company Caesars Entertainment (NASDAQ:CZR) will be reporting results tomorrow after market close. Here's what investors should know.
Last quarter Caesars Entertainment reported revenues of $2.99 billion, up 3.7% year on year, beating analyst revenue expectations by 2%. It was a strong quarter for the company, with a decent beat of analysts' earnings estimates.
Is Caesars Entertainment buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Caesars Entertainment's revenue to grow 1.5% year on year to $2.86 billion, slowing down from the 8.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.
The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing three downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 0.9%.
Looking at Caesars Entertainment's peers in the casinos and gaming segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Boyd Gaming delivered top-line growth of 3.4% year on year, beating analyst estimates by 2.7% and DraftKings reported revenues up 43.9% year on year, missing analyst estimates by 0.7%. Boyd Gaming traded up 3.8% on the results, DraftKings was down 3.4%.
Read our full analysis of Boyd Gaming's results here and DraftKings's results here.
Investors in the casinos and gaming segment have had steady hands going into the earnings, with the stocks down on average 0.1% over the last month. Caesars Entertainment is down 7.7% during the same time, and is heading into the earnings with analyst price target of $61.8, compared to share price of $42.3.
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