Wall Street brokerages expect Caesars Entertainment Co. (NASDAQ:CZR) to announce ($0.11) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Caesars Entertainment’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.24). Caesars Entertainment posted earnings of $0.14 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 178.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, March 6th.
On average, analysts expect that Caesars Entertainment will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.01 to $0.14. For the next financial year, analysts expect that the business will report earnings of ($0.10) per share, with EPS estimates ranging from ($0.50) to $0.51. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Caesars Entertainment had a net margin of 25.75% and a return on equity of 2.26%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion.
A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. UBS Group assumed coverage on shares of Caesars Entertainment in a report on Monday, September 24th. They set a “sell” rating and a $9.00 price target for the company. Zacks Investment Research raised shares of Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Jefferies Financial Group set a $11.00 price target on shares of Caesars Entertainment and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Morgan Stanley set a $12.00 price target on shares of Caesars Entertainment and gave the company a “buy” rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Caesars Entertainment presently has an average rating of “Hold” and an average target price of $12.60.
In related news, insider Marco Roca sold 17,834 shares of Caesars Entertainment stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total value of $146,417.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Don R. Kornstein acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $140,000.00. Following the completion of the transaction, the director now owns 78,552 shares in the company, valued at $549,864. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 81,000 shares of company stock worth $585,190. 0.92% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 16.3% during the 3rd quarter. Vanguard Group Inc. now owns 52,126,701 shares of the company’s stock worth $534,298,000 after buying an additional 7,294,525 shares in the last quarter. Vanguard Group Inc raised its position in shares of Caesars Entertainment by 16.3% during the 3rd quarter. Vanguard Group Inc now owns 52,126,701 shares of the company’s stock worth $534,298,000 after buying an additional 7,294,525 shares in the last quarter. BlackRock Inc. raised its position in shares of Caesars Entertainment by 40.0% during the 2nd quarter. BlackRock Inc. now owns 17,255,685 shares of the company’s stock worth $184,635,000 after buying an additional 4,931,707 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Caesars Entertainment by 3.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,542,816 shares of the company’s stock worth $87,564,000 after buying an additional 285,428 shares in the last quarter. Finally, Global Thematic Partners LLC raised its position in shares of Caesars Entertainment by 15.9% during the 3rd quarter. Global Thematic Partners LLC now owns 4,707,059 shares of the company’s stock worth $48,248,000 after buying an additional 646,211 shares in the last quarter.
CZR traded up $0.72 during trading hours on Friday, reaching $8.71. 46,501,399 shares of the stock traded hands, compared to its average volume of 25,260,738. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -2.58 and a beta of 0.94. Caesars Entertainment has a fifty-two week low of $5.84 and a fifty-two week high of $14.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 5.93.
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.
Featured Article: Quick Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Caesars Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesars Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.