Equities research analysts expect that Caesars Entertainment Co. (NASDAQ:CZR) will post $1.96 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Caesars Entertainment’s earnings, with the highest sales estimate coming in at $2.02 billion and the lowest estimate coming in at $1.90 billion. Caesars Entertainment posted sales of $963.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 103.5%. The company is expected to announce its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Caesars Entertainment will report full year sales of $8.52 billion for the current financial year, with estimates ranging from $8.24 billion to $8.68 billion. For the next year, analysts expect that the business will report sales of $8.87 billion per share, with estimates ranging from $8.58 billion to $9.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Wednesday, March 7th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2 billion.
In related news, EVP Timothy R. Donovan sold 5,354 shares of the business’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $12.48, for a total value of $66,817.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Governors Lane LP purchased a new stake in Caesars Entertainment in the fourth quarter valued at $111,347,000. Long Pond Capital LP purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $88,898,000. Systematic Financial Management LP purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $45,980,000. Franklin Resources Inc. purchased a new stake in shares of Caesars Entertainment in the fourth quarter valued at about $33,666,000. Finally, Eaton Vance Management raised its holdings in shares of Caesars Entertainment by 1,668.5% in the fourth quarter. Eaton Vance Management now owns 2,087,735 shares of the company’s stock valued at $26,410,000 after buying an additional 1,969,686 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Caesars Entertainment stock traded down $0.30 during trading on Friday, hitting $11.00. 7,333,402 shares of the stock were exchanged, compared to its average volume of 10,588,731. The stock has a market cap of $7,610.06, a P/E ratio of -3.26 and a beta of 0.30. Caesars Entertainment has a 12-month low of $9.45 and a 12-month high of $14.50. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 5.55.
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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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