Brokerages expect Caesars Entertainment Co. (NASDAQ:CZR) to post $2.11 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Caesars Entertainment’s earnings. The highest sales estimate is $2.15 billion and the lowest is $2.06 billion. Caesars Entertainment reported sales of $2.12 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The firm is scheduled to announce its next earnings results on Thursday, February 20th.
On average, analysts expect that Caesars Entertainment will report full year sales of $8.70 billion for the current year, with estimates ranging from $8.63 billion to $8.73 billion. For the next year, analysts expect that the firm will report sales of $8.84 billion, with estimates ranging from $8.64 billion to $8.97 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.49). The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.21 billion. Caesars Entertainment had a negative net margin of 7.98% and a negative return on equity of 14.01%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS.
In other news, EVP Richard D. Broome sold 118,668 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.02, for a total transaction of $1,545,057.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas M. Benninger sold 9,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $13.10, for a total transaction of $117,900.00. Following the sale, the director now directly owns 28,960 shares in the company, valued at $379,376. The disclosure for this sale can be found here. Insiders have sold 133,273 shares of company stock worth $1,736,271 over the last three months. 0.51% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $127,000. Ibex Investors LLC bought a new stake in shares of Caesars Entertainment during the third quarter valued at approximately $181,000. Weaver Consulting Group acquired a new position in Caesars Entertainment in the third quarter valued at approximately $230,000. Cetera Advisors LLC lifted its holdings in Caesars Entertainment by 26.6% in the third quarter. Cetera Advisors LLC now owns 19,775 shares of the company’s stock valued at $231,000 after buying an additional 4,150 shares during the period. Finally, Strs Ohio lifted its holdings in Caesars Entertainment by 46.8% in the third quarter. Strs Ohio now owns 21,383 shares of the company’s stock valued at $249,000 after buying an additional 6,819 shares during the period.
Caesars Entertainment stock traded up $0.04 during trading hours on Tuesday, hitting $13.80. 18,798,420 shares of the stock were exchanged, compared to its average volume of 11,759,440. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.26 and a current ratio of 1.27. The stock has a market capitalization of $9.37 billion, a P/E ratio of -12.90 and a beta of 1.40. Caesars Entertainment has a 12 month low of $8.00 and a 12 month high of $13.85. The business’s 50-day moving average is $13.37 and its two-hundred day moving average is $12.32.
About Caesars Entertainment
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
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