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

Equities research analysts expect Caesars Entertainment Corp (NASDAQ:CZR) to report $2.00 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Caesars Entertainment’s earnings. The highest sales estimate is $2.06 billion and the lowest is $1.93 billion. Caesars Entertainment reported sales of $949.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 110.7%. The company is scheduled to announce its next quarterly earnings results 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 year. For the next financial year, analysts forecast 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 averages are an average based on a survey of sell-side research firms that follow Caesars Entertainment.

Several research firms have recently issued reports on CZR. BidaskClub raised Caesars Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday. Jefferies Group began coverage on Caesars Entertainment in a report on Thursday, January 18th. They set a “hold” rating and a $14.00 target price on the stock. Zacks Investment Research lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Monday, December 4th. SunTrust Banks reaffirmed an “average” rating and issued a $16.00 price objective on shares of Caesars Entertainment in a research note on Monday, February 5th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Caesars Entertainment in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.55.

In other Caesars Entertainment news, EVP Janis L. Jones sold 26,131 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $12.86, for a total value of $336,044.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Boushy bought 20,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was purchased at an average price of $12.64 per share, with a total value of $252,800.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $252,800. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Davidson Kempner Capital Management LP bought a new position in shares of Caesars Entertainment during the second quarter worth about $5,378,000. DSAM Partners London Ltd raised its position in shares of Caesars Entertainment by 56.8% during the third quarter. DSAM Partners London Ltd now owns 1,317,879 shares of the company’s stock worth $17,594,000 after acquiring an additional 477,646 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Caesars Entertainment by 7.6% during the second quarter. Vanguard Group Inc. now owns 4,910,696 shares of the company’s stock worth $58,929,000 after acquiring an additional 346,270 shares during the last quarter. 1060 Capital LLC bought a new position in shares of Caesars Entertainment during the third quarter worth about $12,015,000. Finally, Northern Trust Corp raised its position in shares of Caesars Entertainment by 4.3% during the second quarter. Northern Trust Corp now owns 629,548 shares of the company’s stock worth $7,555,000 after acquiring an additional 25,709 shares during the last quarter. Hedge funds and other institutional investors own 20.78% of the company’s stock.

Shares of Caesars Entertainment (NASDAQ CZR) traded up $0.05 during midday trading on Wednesday, reaching $13.20. The company’s stock had a trading volume of 3,368,467 shares, compared to its average volume of 6,378,634. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of -1.69. Caesars Entertainment has a 52-week low of $9.00 and a 52-week high of $14.50. The firm has a market cap of $9,259.33, a price-to-earnings ratio of -0.65 and a beta of 0.26.

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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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