Equities analysts expect Caesars Entertainment Co. (NASDAQ:CZR) to post $2.10 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Caesars Entertainment’s earnings, with the lowest sales estimate coming in at $2.03 billion and the highest estimate coming in at $2.15 billion. Caesars Entertainment posted sales of $1.97 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 1st.
On average, analysts expect that Caesars Entertainment will report full year sales of $8.72 billion for the current financial year, with estimates ranging from $8.51 billion to $8.89 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.89 billion, with estimates ranging from $8.69 billion to $9.06 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Caesars Entertainment.
Get Caesars Entertainment alerts:Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Thursday, February 21st. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). Caesars Entertainment had a negative return on equity of 4.15% and a net margin of 3.61%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm posted $2.48 EPS. Caesars Entertainment’s quarterly revenue was up 11.3% on a year-over-year basis.
CZR has been the subject of a number of research analyst reports. BidaskClub raised Caesars Entertainment from a “strong sell” rating to a “sell” rating in a report on Friday, January 11th. UBS Group raised Caesars Entertainment from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $7.00 in a report on Wednesday, January 2nd. Bank of America cut Caesars Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $8.75 to $9.00 in a report on Wednesday, January 16th. Deutsche Bank lowered their price target on Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 7th. Finally, Sanford C. Bernstein initiated coverage on Caesars Entertainment in a report on Thursday, November 15th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.00.
Shares of Caesars Entertainment stock traded down $0.13 during trading on Friday, reaching $8.45. 22,267,200 shares of the company’s stock were exchanged, compared to its average volume of 28,155,959. The company has a debt-to-equity ratio of 5.93, a quick ratio of 1.14 and a current ratio of 1.16. Caesars Entertainment has a 1-year low of $5.84 and a 1-year high of $13.54. The stock has a market capitalization of $5.72 billion, a P/E ratio of -45.11 and a beta of 1.31.
In other news, Director Don R. Kornstein bought 20,000 shares of the stock in a transaction on Friday, December 21st. The stock was acquired at an average price of $6.29 per share, with a total value of $125,800.00. Following the acquisition, the director now directly owns 88,552 shares in the company, valued at $556,992.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Gabelli Funds LLC acquired a new position in Caesars Entertainment in the 4th quarter worth about $762,000. Janney Montgomery Scott LLC acquired a new stake in shares of Caesars Entertainment in the third quarter valued at about $416,000. Thompson Siegel & Walmsley LLC increased its stake in shares of Caesars Entertainment by 3.5% in the third quarter. Thompson Siegel & Walmsley LLC now owns 8,542,816 shares of the company’s stock valued at $87,564,000 after buying an additional 285,428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Caesars Entertainment by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,676 shares of the company’s stock valued at $269,000 after buying an additional 3,087 shares during the period. Finally, Brookfield Asset Management Inc. increased its stake in shares of Caesars Entertainment by 130.0% in the third quarter. Brookfield Asset Management Inc. now owns 460,000 shares of the company’s stock valued at $4,715,000 after buying an additional 260,000 shares during the period.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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