Bank of America Corp. Reiterates Underperform Rating for Caesars Entertainment Corp. (CZR)
Caesars Entertainment Corp. (NYSE:CZR)‘s stock had its “underperform” rating restated by research analysts at Bank of America Corp. in a report released on Thursday, AnalystRatingsNetwork.com reports.
The analysts wrote, “Caesars is moving toward the distribution of subscription rights for ‘CAC’ through which shareholders have the right to invest in Caesars Growth Partners (CGP) by exchanging that right for $8.64 in cash. Below we update our sum-of-the-parts for CGP and our model for recent deals but maintain our Underperform and $11 PO.”
Caesars Entertainment Corp. (NYSE:CZR) traded up 0.93% on Thursday, hitting $20.59. The stock had a trading volume of 2,455,804 shares. Caesars Entertainment Corp. has a 1-year low of $4.52 and a 1-year high of $26.57. The stock has a 50-day moving average of $22.13 and a 200-day moving average of $17.02. The company’s market cap is $2.600 billion. Caesars Entertainment Corp. also was the recipient of some unusual options trading activity on Monday. Investors acquired 63,429 call options on the stock. This is an increase of approximately 917% compared to the typical daily volume of 6,236 call options.
Caesars Entertainment Corp. (NYSE:CZR) last released its earnings data on Monday, July 29th. The company reported ($1.69) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.57) by $0.12. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company posted ($1.93) earnings per share. Caesars Entertainment Corp.’s revenue was down .3% compared to the same quarter last year. On average, analysts predict that Caesars Entertainment Corp. will post $-6.68 earnings per share for the current fiscal year.
Caesars Entertainment Corporation provides casino entertainment services. Its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities.
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