Caesars Entertainment, Inc. (NASDAQ:CZR) Expected to Announce Quarterly Sales of $2.79 Billion

Wall Street brokerages expect Caesars Entertainment, Inc. (NASDAQ:CZRGet Rating) to announce $2.79 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Caesars Entertainment’s earnings. The highest sales estimate is $2.95 billion and the lowest is $2.66 billion. Caesars Entertainment reported sales of $2.50 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Caesars Entertainment will report full year sales of $10.83 billion for the current fiscal year, with estimates ranging from $10.58 billion to $11.39 billion. For the next fiscal year, analysts expect that the business will post sales of $12.00 billion, with estimates ranging from $11.43 billion to $12.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZRGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($3.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.65) by ($1.53). The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Caesars Entertainment had a negative return on equity of 17.77% and a negative net margin of 12.66%. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.06) earnings per share.

CZR has been the subject of several research reports. Cowen decreased their price objective on shares of Caesars Entertainment from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. Stifel Nicolaus lowered their price objective on Caesars Entertainment from $127.00 to $113.00 in a research note on Wednesday, May 4th. Wells Fargo & Company dropped their target price on shares of Caesars Entertainment from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Truist Financial decreased their target price on Caesars Entertainment from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, April 19th. Finally, Bank of America reduced their price objective on Caesars Entertainment from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $116.87.

In other news, Director Sandra Douglass Morgan sold 756 shares of the firm’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $79.28, for a total transaction of $59,935.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Courtney Mather acquired 16,000 shares of Caesars Entertainment stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average cost of $60.12 per share, with a total value of $961,920.00. Following the acquisition, the director now directly owns 30,160 shares of the company’s stock, valued at $1,813,219.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,000 shares of company stock valued at $2,571,290 over the last three months. 0.55% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CZR. Westpac Banking Corp raised its holdings in shares of Caesars Entertainment by 0.7% in the 4th quarter. Westpac Banking Corp now owns 17,976 shares of the company’s stock worth $1,681,000 after purchasing an additional 127 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Caesars Entertainment by 75.3% during the fourth quarter. NEXT Financial Group Inc now owns 326 shares of the company’s stock worth $30,000 after purchasing an additional 140 shares during the period. US Bancorp DE lifted its holdings in shares of Caesars Entertainment by 4.2% during the third quarter. US Bancorp DE now owns 3,814 shares of the company’s stock valued at $429,000 after purchasing an additional 153 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Caesars Entertainment by 4.1% in the 4th quarter. Synovus Financial Corp now owns 3,967 shares of the company’s stock valued at $365,000 after purchasing an additional 155 shares during the period. Finally, State of Michigan Retirement System increased its stake in Caesars Entertainment by 0.4% in the 1st quarter. State of Michigan Retirement System now owns 53,997 shares of the company’s stock worth $4,177,000 after purchasing an additional 197 shares in the last quarter. 94.75% of the stock is owned by hedge funds and other institutional investors.

Shares of CZR traded up $3.26 during mid-day trading on Wednesday, hitting $46.40. The company had a trading volume of 5,436,706 shares, compared to its average volume of 3,264,652. The stock has a market cap of $9.95 billion, a PE ratio of -7.77 and a beta of 2.80. The business’s 50-day simple moving average is $66.08 and its 200-day simple moving average is $79.18. Caesars Entertainment has a 1-year low of $42.59 and a 1-year high of $119.81. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 6.82.

About Caesars Entertainment (Get Rating)

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos comprising poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also provides staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.

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Earnings History and Estimates for Caesars Entertainment (NASDAQ:CZR)

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