Brokerages forecast that Caesars Entertainment Co. (NASDAQ:CZR) will report $2.10 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Caesars Entertainment’s earnings, with the highest sales estimate coming in at $2.12 billion and the lowest estimate coming in at $2.07 billion. Caesars Entertainment reported sales of $1.90 billion in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The business is expected to issue its next quarterly earnings report on Wednesday, March 6th.
According to Zacks, analysts expect that Caesars Entertainment will report full-year sales of $8.40 billion for the current year, with estimates ranging from $8.35 billion to $8.50 billion. For the next financial year, analysts anticipate that the firm will post sales of $8.76 billion, with estimates ranging from $8.51 billion to $8.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caesars Entertainment.
Several equities analysts recently weighed in on CZR shares. UBS Group raised shares of Caesars Entertainment from a “sell” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $7.00 in a research report on Wednesday, January 2nd. BidaskClub cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. Zacks Investment Research cut shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Oppenheimer set a $15.00 target price on shares of Caesars Entertainment and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Morgan Stanley set a $12.00 target price on shares of Caesars Entertainment and gave the stock a “buy” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.00.
In related news, Director Thomas M. Benninger purchased 41,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were bought at an average price of $7.79 per share, with a total value of $319,390.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marco Roca sold 17,834 shares of Caesars Entertainment stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $8.21, for a total transaction of $146,417.14. The disclosure for this sale can be found here. In the last three months, insiders have acquired 81,000 shares of company stock worth $585,190. Insiders own 0.92% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Cohen Capital Management Inc. raised its holdings in shares of Caesars Entertainment by 0.6% in the 4th quarter. Cohen Capital Management Inc. now owns 431,137 shares of the company’s stock worth $2,927,000 after purchasing an additional 2,380 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Caesars Entertainment by 8.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,676 shares of the company’s stock worth $269,000 after purchasing an additional 3,087 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of Caesars Entertainment by 20.1% in the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 25,100 shares of the company’s stock worth $170,000 after purchasing an additional 4,200 shares during the period. M&T Bank Corp raised its holdings in shares of Caesars Entertainment by 44.4% in the 4th quarter. M&T Bank Corp now owns 19,854 shares of the company’s stock worth $136,000 after purchasing an additional 6,100 shares during the period. Finally, Rhumbline Advisers grew its stake in Caesars Entertainment by 1.2% in the 4th quarter. Rhumbline Advisers now owns 532,440 shares of the company’s stock valued at $3,615,000 after buying an additional 6,315 shares in the last quarter.
NASDAQ CZR traded up $0.08 during trading hours on Wednesday, hitting $9.40. The company’s stock had a trading volume of 15,918,912 shares, compared to its average volume of 30,323,961. Caesars Entertainment has a 52 week low of $5.84 and a 52 week high of $13.54. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -2.79 and a beta of 1.31. 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 Company Profile
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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