Caesars Entertainment Corp (NASDAQ:CZR) reported on Monday that its fiscal Q4 net loss over doubled to $469.7 million due to Hurricane Sandy and a write-off at one New Jersey property. Stock of the biggest owner of United States casinos tumbled.
The Las Vegas-based Caesars Entertainment reported that net loss was $3.75 per share evaluated against a loss of $220.6 million or $1.76 a share in previous year, constrained by over $20 billion in debt. Bloomberg gathered data confirm that six analysts forecasted a loss of $1.73 per share.
Caesars got $45 million charge due to Sandy from the closing of its four Atlantic City resorts for 5 days and its Philadelphia casino for two.
Shares of Caesars tumbled 7.4% to settle at $10.85 in afterhours trading session.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. MTR Gaming Group, Inc. (NASDAQ:MNTG) fell -1.81% to settle at $3.80, Isle of Capri Casinos (NASDAQ:ISLE) moved down -0.94% to end at $6.34 while Penn National Gaming, Inc (NASDAQ:PENN) dropped -2.24% to finish at $48.97 on Monday.
Caesars Entertainment Corp (NASDAQ:CZR) last session’s volume of 1.71 million shares was higher than its average volume of 1.18 million shares. The stock after opening at $12.28 hit high price of $12.70 and then closed at $11.71 by scoring +1.04%.
CZR generated revenue of $8.74 billion in the previous twelve months. The Company showed a negative -14.30% in the net profit margin as well as in its operating margin which remained at 2.39%. Company’s annual sales growth for the past five years was -1.80%.
The CZR’s past twelve months’ price to sales ratio was 0.17 and price to cash ratio remained 1.23. As far as the returns are concerned, CZR’s return on equity was recorded as -213.65% and return on investment decreased -4.75% while its return on asset stayed at -4.37%.
The stock showed weekly upbeat performance of 9.03% which was maintained for the month at 48.04%. Likewise the positive performance for the quarter was recorded as 111.75% and for the year was -2.42% while the YTD performance remained at 69.22%.
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