Analysts Expect Caesars Entertainment Corp (CZR) Will Post Quarterly Sales of $2.00 Billion

Wall Street brokerages forecast that Caesars Entertainment Corp (NASDAQ:CZR) will report sales of $2.00 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Caesars Entertainment’s earnings, with estimates ranging from $1.93 billion to $2.06 billion. Caesars Entertainment reported sales of $949.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 110.7%. The firm is expected to report its next quarterly earnings results on Tuesday, February 13th.

According to Zacks, analysts expect that Caesars Entertainment will report full-year sales of $2.00 billion for the current year, with estimates ranging from $4.88 billion to $5.01 billion. For the next financial year, analysts anticipate that the company will post sales of $8.77 billion per share, with estimates ranging from $8.68 billion to $8.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Caesars Entertainment.

Several research firms recently issued reports on CZR. Jefferies Group began coverage on Caesars Entertainment in a research note on Thursday, January 18th. They issued a “hold” rating and a $14.00 price target for the company. BidaskClub upgraded Caesars Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. ValuEngine downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Caesars Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Oppenheimer restated a “buy” rating and issued a $15.00 price target on shares of Caesars Entertainment in a research note on Thursday, November 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Caesars Entertainment has a consensus rating of “Hold” and a consensus target price of $14.35.

In other Caesars Entertainment news, Director John M. Boushy acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average cost of $12.64 per share, for a total transaction of $252,800.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $252,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Janis L. Jones sold 26,131 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $12.86, for a total value of $336,044.66. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in CZR. Capital Research Global Investors lifted its position in shares of Caesars Entertainment by 61.1% during the 2nd quarter. Capital Research Global Investors now owns 5,639,686 shares of the company’s stock worth $67,676,000 after buying an additional 2,139,086 shares during the last quarter. Hamilton Lane Advisors LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $24,118,000. Selz Capital LLC bought a new stake in shares of Caesars Entertainment during the 4th quarter worth $23,385,000. Bank of New York Mellon Corp lifted its position in shares of Caesars Entertainment by 619.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,920,538 shares of the company’s stock worth $25,639,000 after buying an additional 1,653,439 shares during the last quarter. Finally, Davidson Kempner Capital Management LP lifted its position in shares of Caesars Entertainment by 267.9% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,655,745 shares of the company’s stock worth $22,104,000 after buying an additional 1,205,745 shares during the last quarter. Institutional investors and hedge funds own 20.49% of the company’s stock.

Shares of Caesars Entertainment (NASDAQ:CZR) opened at $13.95 on Friday. The stock has a market capitalization of $9,890.00, a price-to-earnings ratio of -0.68 and a beta of 0.31. Caesars Entertainment has a one year low of $8.50 and a one year high of $14.20. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of -1.69.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s resorts operate primarily under the Harrah’s, Caesars and Horseshoe brand names.

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