Hotel and casino entertainment company Caesars Entertainment (NASDAQ: CZR) will be reporting earnings this Tuesday after market close. Here’s what to expect.
Caesars Entertainment beat analysts’ revenue expectations last quarter, reporting revenues of $2.99 billion, up 3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is Caesars Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Caesars Entertainment’s revenue to grow 3.5% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Caesars Entertainment has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Caesars Entertainment’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Boyd Gaming’s revenues decreased 1.4% year on year, missing analysts’ expectations by 1.1%, and Hasbro reported revenues up 15%, topping estimates by 7.9%. Boyd Gaming’s stock price was unchanged after the resultswhile Hasbro was up 15.7%.
Read our full analysis of Boyd Gaming’s results here and Hasbro’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Caesars Entertainment is down 2.9% during the same time and is heading into earnings with an average analyst price target of $31.27 (compared to the current share price of $28.74).
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