Brokerages predict that Caesars Entertainment Co. (NASDAQ:CZR) will announce $2.11 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Caesars Entertainment’s earnings, with the lowest sales estimate coming in at $2.06 billion and the highest estimate coming in at $2.15 billion. Caesars Entertainment posted sales of $2.12 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The company is scheduled to report its next quarterly earnings results on Thursday, February 20th.
On average, analysts expect that Caesars Entertainment will report full-year sales of $8.70 billion for the current fiscal year, with estimates ranging from $8.63 billion to $8.73 billion. For the next financial year, analysts forecast that the company will post sales of $8.84 billion, with estimates ranging from $8.64 billion to $8.97 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.49). The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.21 billion. Caesars Entertainment had a negative net margin of 7.98% and a negative return on equity of 14.01%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS.
A number of research firms recently weighed in on CZR. BidaskClub cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Zacks Investment Research cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. UBS Group upped their target price on shares of Caesars Entertainment from $12.00 to $13.75 and gave the company a “neutral” rating in a research note on Friday, January 10th. TheStreet cut shares of Caesars Entertainment from a “c-” rating to a “d+” rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank set a $13.00 target price on shares of Caesars Entertainment and gave the company a “buy” rating in a research note on Monday, September 23rd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.00.
In other Caesars Entertainment news, CAO Keith Causey sold 5,605 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $13.08, for a total transaction of $73,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas M. Benninger sold 9,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $13.10, for a total transaction of $117,900.00. Following the sale, the director now directly owns 28,960 shares in the company, valued at $379,376. The disclosure for this sale can be found here. Insiders have sold 133,273 shares of company stock worth $1,736,271 over the last ninety days. Insiders own 0.51% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Cerebellum GP LLC bought a new stake in Caesars Entertainment during the third quarter worth about $127,000. Ibex Investors LLC acquired a new position in shares of Caesars Entertainment during the third quarter worth approximately $181,000. Weaver Consulting Group acquired a new position in shares of Caesars Entertainment during the third quarter worth approximately $230,000. Cetera Advisors LLC lifted its position in shares of Caesars Entertainment by 26.6% during the third quarter. Cetera Advisors LLC now owns 19,775 shares of the company’s stock worth $231,000 after purchasing an additional 4,150 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Caesars Entertainment by 46.8% during the third quarter. Strs Ohio now owns 21,383 shares of the company’s stock worth $249,000 after purchasing an additional 6,819 shares in the last quarter.
NASDAQ CZR traded up $0.04 on Tuesday, reaching $13.80. The company’s stock had a trading volume of 18,798,420 shares, compared to its average volume of 11,759,440. The firm has a market cap of $9.37 billion, a PE ratio of -12.90 and a beta of 1.40. The business has a 50-day moving average price of $13.37 and a 200 day moving average price of $12.32. Caesars Entertainment has a 52 week low of $8.00 and a 52 week high of $13.85. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 7.52.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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