Yahoo Finance Caesars Entertainment (CZR) Gains But Lags Market: What You Should Know
In the latest trading session, Caesars Entertainment (CZR) closed at $44.33, marking a +0.48% move from the previous day. The stock lagged the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Heading into today, shares of the casino and resort operator had lost 0.47% over the past month, lagging the Consumer Discretionary sector's gain of 4.32% and the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from Caesars Entertainment as it approaches its next earnings report date. This is expected to be May 2, 2023. In that report, analysts expect Caesars Entertainment to post earnings of $0.08 per share. This would mark year-over-year growth of 103.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.74 billion, up 19.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.94 per share and revenue of $11.44 billion. These totals would mark changes of +126.04% and +5.7%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Caesars Entertainment. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.81% lower. Caesars Entertainment is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Caesars Entertainment is currently trading at a Forward P/E ratio of 46.88. For comparison, its industry has an average Forward P/E of 24.96, which means Caesars Entertainment is trading at a premium to the group.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
