Analysts expect Caesars Entertainment Co. (NASDAQ:CZR) to post $2.18 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Caesars Entertainment’s earnings. The highest sales estimate is $2.21 billion and the lowest is $2.12 billion. Caesars Entertainment reported sales of $2.19 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The company is expected to announce its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Caesars Entertainment will report full-year sales of $8.66 billion for the current year, with estimates ranging from $8.53 billion to $8.72 billion. For the next financial year, analysts anticipate that the business will post sales of $8.84 billion, with estimates ranging from $8.67 billion to $8.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Caesars Entertainment had a negative return on equity of 12.38% and a negative net margin of 2.59%.
A number of research analysts have recently issued reports on the company. SunTrust Banks downgraded Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price target on the stock. in a report on Tuesday, June 25th. Deutsche Bank set a $13.00 price target on Caesars Entertainment and gave the company a “buy” rating in a report on Monday, September 23rd. Nomura downgraded Caesars Entertainment from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Tuesday, June 25th. Morgan Stanley downgraded Caesars Entertainment from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $11.00 to $12.50 in a report on Tuesday, June 25th. Finally, ValuEngine downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Caesars Entertainment has an average rating of “Hold” and an average price target of $12.08.
Shares of NASDAQ:CZR traded up $0.04 on Tuesday, reaching $12.05. The company had a trading volume of 8,247,360 shares, compared to its average volume of 9,319,985. Caesars Entertainment has a 52-week low of $5.84 and a 52-week high of $12.23. The firm’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $10.72. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 6.69.
In other Caesars Entertainment news, VP Les Ottolenghi sold 17,240 shares of Caesars Entertainment stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $11.44, for a total transaction of $197,225.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 52,114 shares of company stock valued at $597,753. 0.51% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CZR. Magnetar Financial LLC purchased a new position in shares of Caesars Entertainment during the 2nd quarter valued at about $156,095,000. Canyon Capital Advisors LLC raised its stake in shares of Caesars Entertainment by 10.9% during the 1st quarter. Canyon Capital Advisors LLC now owns 77,581,861 shares of the company’s stock valued at $674,186,000 after buying an additional 7,610,629 shares during the last quarter. Omni Partners LLP purchased a new position in shares of Caesars Entertainment during the 2nd quarter valued at about $86,908,000. Alpine Associates Management Inc. raised its stake in shares of Caesars Entertainment by 2,876.5% during the 2nd quarter. Alpine Associates Management Inc. now owns 7,227,000 shares of the company’s stock valued at $85,423,000 after buying an additional 6,984,200 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its stake in shares of Caesars Entertainment by 74.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 8,413,040 shares of the company’s stock valued at $99,442,000 after buying an additional 3,580,046 shares during the last quarter.
Caesars Entertainment Company Profile
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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