$2.20 Billion in Sales Expected for Caesars Entertainment Co. (NASDAQ:CZR) This Quarter
Brokerages expect that Caesars Entertainment Co. (NASDAQ:CZR) will post sales of $2.20 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Caesars Entertainment’s earnings. The highest sales estimate is $2.22 billion and the lowest is $2.16 billion. Caesars Entertainment reported sales of $2.19 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.5%. The company is expected to announce its next earnings results on Thursday, November 7th.
On average, analysts expect that Caesars Entertainment will report full-year sales of $8.68 billion for the current financial year, with estimates ranging from $8.58 billion to $8.72 billion. For the next year, analysts forecast that the business will report sales of $8.85 billion, with estimates ranging from $8.71 billion to $8.95 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Caesars Entertainment.
A number of analysts recently weighed in on CZR shares. Deutsche Bank reiterated a “buy” rating and issued a $13.00 price target on shares of Caesars Entertainment in a research report on Wednesday, August 7th. SunTrust Banks downgraded shares of Caesars Entertainment from a “buy” rating to a “hold” rating and set a $12.75 price target on the stock. in a research report on Tuesday, June 25th. UBS Group increased their price target on shares of Caesars Entertainment from $7.00 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Morgan Stanley downgraded shares of Caesars Entertainment from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $12.50 in a research report on Tuesday, June 25th. Finally, BidaskClub upgraded shares of Caesars Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.08.
A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in Caesars Entertainment by 37.0% during the second quarter. California Public Employees Retirement System now owns 682,245 shares of the company’s stock worth $8,064,000 after purchasing an additional 184,345 shares during the period. Voleon Capital Management LP bought a new position in Caesars Entertainment during the second quarter worth $7,352,000. Nuveen Asset Management LLC bought a new position in Caesars Entertainment during the second quarter worth $24,091,000. UBS Asset Management Americas Inc. boosted its position in Caesars Entertainment by 7.9% during the second quarter. UBS Asset Management Americas Inc. now owns 567,720 shares of the company’s stock worth $6,710,000 after purchasing an additional 41,595 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Caesars Entertainment by 2,395.8% during the second quarter. Cubist Systematic Strategies LLC now owns 299,172 shares of the company’s stock worth $3,536,000 after purchasing an additional 287,185 shares during the period.
Shares of NASDAQ:CZR traded down $0.01 during mid-day trading on Thursday, reaching $11.45. The stock had a trading volume of 7,871,010 shares, compared to its average volume of 24,223,525. The firm has a market cap of $7.78 billion, a PE ratio of -60.26 and a beta of 1.40. The firm has a 50 day simple moving average of $11.83 and a two-hundred day simple moving average of $9.86. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 6.69. Caesars Entertainment has a twelve month low of $5.84 and a twelve month high of $12.23.
Caesars Entertainment Company Profile
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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