Caesars Entertainment Co. (CZR) Expected to Post Quarterly Sales of $1.96 Billion

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.



Several equities research analysts have recently issued reports on CZR shares. Jefferies Group started coverage on shares of Caesars Entertainment in a research report on Thursday, January 18th. They set a “hold” rating and a $14.00 price objective for the company. Zacks Investment Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 30th. SunTrust Banks reaffirmed an “average” rating and set a $16.00 price objective on shares of Caesars Entertainment in a research report on Monday, February 5th. BidaskClub raised shares of Caesars Entertainment from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 17th. Finally, Nomura raised shares of Caesars Entertainment from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Caesars Entertainment currently has an average rating of “Hold” and an average price target of $14.65.

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.

TRADEMARK VIOLATION NOTICE: “Caesars Entertainment Co. (CZR) Expected to Post Quarterly Sales of $1.96 Billion” was originally reported by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://dakotafinancialnews.com/2018/04/14/caesars-entertainment-co-czr-expected-to-post-quarterly-sales-of-1-96-billion.html.

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.

Get a free copy of the Zacks research report on Caesars Entertainment (CZR)

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.



Leave a Reply