$2.00 Billion in Sales Expected for Caesars Entertainment Corp (CZR) This Quarter

Wall Street brokerages forecast that Caesars Entertainment Corp (NASDAQ:CZR) will post $2.00 billion in sales for the current fiscal quarter, Zacks Investment Research reports. 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 company is expected to issue its next earnings report after the market closes on Wednesday, March 7th.

On average, analysts expect that Caesars Entertainment will report full-year sales of $2.00 billion for the current financial year. For the next year, analysts expect that the firm will report sales of $8.77 billion per share, with estimates ranging from $8.68 billion to $8.86 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Caesars Entertainment.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 30th. SunTrust Banks restated an “average” rating and issued a $16.00 price target on shares of Caesars Entertainment in a research note on Monday, February 5th. ValuEngine downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Jefferies Group assumed 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. 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Caesars Entertainment currently has a consensus rating of “Hold” and a consensus price target of $14.55.

In related news, EVP Janis L. Jones sold 26,131 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $12.86, for a total transaction of $336,044.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John M. Boushy bought 20,000 shares of Caesars Entertainment stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $12.64 per share, for a total transaction of $252,800.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $252,800. The disclosure for this purchase can be found here. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CZR. Governors Lane LP purchased a new stake in Caesars Entertainment in the fourth quarter worth $111,347,000. Long Pond Capital LP purchased a new stake in Caesars Entertainment in the fourth quarter worth $88,898,000. Systematic Financial Management LP purchased a new stake in Caesars Entertainment in the fourth quarter worth $45,980,000. Eaton Vance Management increased its stake in Caesars Entertainment by 1,668.5% in the fourth quarter. Eaton Vance Management now owns 2,087,735 shares of the company’s stock worth $26,410,000 after purchasing an additional 1,969,686 shares during the period. Finally, Hamilton Lane Advisors LLC purchased a new stake in Caesars Entertainment in the fourth quarter worth $24,118,000. Institutional investors and hedge funds own 20.78% of the company’s stock.

Caesars Entertainment (NASDAQ CZR) opened at $12.25 on Wednesday. Caesars Entertainment has a 52 week low of $8.50 and a 52 week high of $14.50. The company has a debt-to-equity ratio of -1.69, a current ratio of 0.48 and a quick ratio of 0.48.

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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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