Equities analysts expect that Caesars Entertainment Co. (NASDAQ:CZR) will report $2.11 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Caesars Entertainment’s earnings, with estimates ranging from $2.06 billion to $2.15 billion. Caesars Entertainment posted sales of $2.12 billion during the same quarter last year, which suggests a negative year over year growth rate of 0.5%. The business is scheduled to issue its next earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Caesars Entertainment will report full-year sales of $8.68 billion for the current fiscal year, with estimates ranging from $8.63 billion to $8.73 billion. For the next financial year, analysts expect that the firm will report sales of $8.84 billion, with estimates ranging from $8.64 billion to $8.97 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.49). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.21 billion. Caesars Entertainment had a negative return on equity of 13.30% and a negative net margin of 7.98%. Caesars Entertainment’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS.
A number of research analysts have commented on CZR shares. TheStreet cut shares of Caesars Entertainment from a “c-” rating to a “d+” rating in a research report on Tuesday, October 29th. BidaskClub cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Deutsche Bank set a $13.00 price target on shares of Caesars Entertainment and gave the company a “buy” rating in a research report on Monday, September 23rd. Zacks Investment Research upgraded shares of Caesars Entertainment from a “sell” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday. Finally, ValuEngine cut shares of Caesars Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.97.
NASDAQ:CZR traded down $0.04 on Thursday, reaching $12.71. 7,389,600 shares of the company’s stock were exchanged, compared to its average volume of 20,317,998. Caesars Entertainment has a 52 week low of $5.84 and a 52 week high of $12.83. The company has a debt-to-equity ratio of 6.69, a current ratio of 1.15 and a quick ratio of 1.13. The stock has a fifty day simple moving average of $11.98 and a 200-day simple moving average of $11.04. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -66.89 and a beta of 1.50.
In other news, VP Les Ottolenghi sold 17,240 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $11.44, for a total value of $197,225.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 52,114 shares of company stock worth $597,753 in the last 90 days. Company insiders own 0.51% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its holdings in Caesars Entertainment by 12.0% in the third quarter. FNY Investment Advisers LLC now owns 275,701 shares of the company’s stock valued at $3,214,000 after acquiring an additional 29,451 shares in the last quarter. Myriad Asset Management Ltd. bought a new stake in Caesars Entertainment in the second quarter valued at $165,000. Capital Fund Management S.A. bought a new stake in Caesars Entertainment in the second quarter valued at $1,391,000. Cetera Advisors LLC bought a new stake in Caesars Entertainment in the second quarter valued at $186,000. Finally, Athanor Capital LP bought a new stake in Caesars Entertainment in the second quarter valued at $5,201,000.
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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