Analysts Anticipate Caesars Entertainment Co. Common Stock (CZR) Will Post Quarterly Sales of $2.23 Billion

Equities analysts expect that Caesars Entertainment Co. Common Stock (NASDAQ:CZR) will announce sales of $2.23 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Caesars Entertainment Co. Common Stock’s earnings. The lowest sales estimate is $2.16 billion and the highest is $2.37 billion. Caesars Entertainment Co. Common Stock posted sales of $986.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 126.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Caesars Entertainment Co. Common Stock will report full year sales of $8.47 billion for the current fiscal year, with estimates ranging from $8.36 billion to $8.66 billion. For the next fiscal year, analysts anticipate that the company will report sales of $8.84 billion per share, with estimates ranging from $8.59 billion to $9.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Caesars Entertainment Co. Common Stock.

Caesars Entertainment Co. Common Stock (NASDAQ:CZR) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Caesars Entertainment Co. Common Stock had a negative return on equity of 4.71% and a net margin of 21.90%. The business’s revenue was up 110.2% compared to the same quarter last year. During the same period last year, the company earned ($9.62) earnings per share.

A number of research firms have weighed in on CZR. BidaskClub downgraded Caesars Entertainment Co. Common Stock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 30th. Zacks Investment Research upgraded Caesars Entertainment Co. Common Stock from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine upgraded Caesars Entertainment Co. Common Stock from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Oppenheimer set a $15.00 price target on Caesars Entertainment Co. Common Stock and gave the company a “buy” rating in a research note on Wednesday, May 2nd. Finally, Bank of America decreased their price target on Caesars Entertainment Co. Common Stock from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.13.

Caesars Entertainment Co. Common Stock traded down $0.10, reaching $9.80, during mid-day trading on Friday, Marketbeat reports. The company had a trading volume of 9,913,861 shares, compared to its average volume of 17,364,312. The company has a debt-to-equity ratio of 5.52, a quick ratio of 1.96 and a current ratio of 1.98. Caesars Entertainment Co. Common Stock has a 52 week low of $8.55 and a 52 week high of $14.50.

In other news, insider Group Holdings (Sbs) Advis Tpg sold 24,924,255 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $13.03, for a total value of $324,763,042.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy R. Donovan sold 69,106 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $12.67, for a total value of $875,573.02. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 125,000 shares of company stock valued at $1,199,150. Insiders own 4.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY lifted its holdings in Caesars Entertainment Co. Common Stock by 11.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 41,486 shares of the company’s stock worth $525,000 after purchasing an additional 4,211 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Caesars Entertainment Co. Common Stock by 60.1% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 15,990 shares of the company’s stock worth $180,000 after purchasing an additional 6,000 shares during the last quarter. SCP Investment LP acquired a new stake in Caesars Entertainment Co. Common Stock during the 1st quarter worth approximately $113,000. Sawtooth Solutions LLC acquired a new stake in Caesars Entertainment Co. Common Stock during the 2nd quarter worth approximately $108,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in Caesars Entertainment Co. Common Stock during the 1st quarter worth approximately $118,000. 99.30% of the stock is owned by institutional investors and hedge funds.

About Caesars Entertainment Co. Common Stock

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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Earnings History and Estimates for Caesars Entertainment Co. Common Stock (NASDAQ:CZR)

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