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What's in Store for Caesars Entertainment (CZR) Q3 Earnings?
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Caesars Entertainment Corporation (CZR - Free Report) is scheduled to report third-quarter 2020 results on Nov 5, after market close. In the last-reported quarter, the company delivered an earnings surprise of 34.2%.
How Are Estimates Placed?
The Zacks Consensus Estimate for the company’s third-quarter bottom line is pegged at a loss of $2.32 per share, indicating a decline from earnings of 48 cents recorded in the year-ago quarter. For revenues, the consensus mark is pegged at $1,594 million, suggesting an improvement of 140.3% from the year-ago figure.
Let's take a look at how things have shaped up in the quarter.
Caesars Entertainment, Inc. Price and EPS Surprise
The coronavirus pandemic is expected to have materially affected Caesars Entertainment’s performance in the third quarter. Although majority of the properties have reopened, dismal traffic due to social-distancing protocols are likely to get reflected in the company’s top line. Also, increased costs in sports betting and marketing initiatives are likely to have weighed on margins in the to-be-reported quarter.
However, solid performance of Las Vegas portfolio, Internet gaming business along with sports partnerships and increased live show frequency are likely to have aided the top line in the to-be-reported quarter. Also, benefits from the implementation of cost-saving initiatives are likely to get reflected in the company’s third-quarter results.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Caesars Entertainment this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates.
Earnings ESP: Caesars Entertainment has an Earnings ESP of +5.53%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.
Electronic Arts Inc. (EA - Free Report) has an Earnings ESP of +211.11% and a Zacks Rank #3.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +6.19% and a Zacks Rank #3.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +7.14% and a Zacks Rank #3.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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What's in Store for Caesars Entertainment (CZR) Q3 Earnings?
Caesars Entertainment Corporation (CZR - Free Report) is scheduled to report third-quarter 2020 results on Nov 5, after market close. In the last-reported quarter, the company delivered an earnings surprise of 34.2%.
How Are Estimates Placed?
The Zacks Consensus Estimate for the company’s third-quarter bottom line is pegged at a loss of $2.32 per share, indicating a decline from earnings of 48 cents recorded in the year-ago quarter. For revenues, the consensus mark is pegged at $1,594 million, suggesting an improvement of 140.3% from the year-ago figure.
Let's take a look at how things have shaped up in the quarter.
Caesars Entertainment, Inc. Price and EPS Surprise
Caesars Entertainment, Inc. price-eps-surprise | Caesars Entertainment, Inc. Quote
Factors at Play
The coronavirus pandemic is expected to have materially affected Caesars Entertainment’s performance in the third quarter. Although majority of the properties have reopened, dismal traffic due to social-distancing protocols are likely to get reflected in the company’s top line. Also, increased costs in sports betting and marketing initiatives are likely to have weighed on margins in the to-be-reported quarter.
However, solid performance of Las Vegas portfolio, Internet gaming business along with sports partnerships and increased live show frequency are likely to have aided the top line in the to-be-reported quarter. Also, benefits from the implementation of cost-saving initiatives are likely to get reflected in the company’s third-quarter results.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Caesars Entertainment this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates.
Earnings ESP: Caesars Entertainment has an Earnings ESP of +5.53%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks With Favorable Combination
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.
Electronic Arts Inc. (EA - Free Report) has an Earnings ESP of +211.11% and a Zacks Rank #3.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +6.19% and a Zacks Rank #3.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +7.14% and a Zacks Rank #3.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>