Caesars Entertainment Co. (CZR) Expected to Post Quarterly Sales of $2.09 Billion

Equities research analysts predict that Caesars Entertainment Co. (NASDAQ:CZR) will post $2.09 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Caesars Entertainment’s earnings, with estimates ranging from $2.03 billion to $2.12 billion. Caesars Entertainment reported sales of $1.97 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The business is scheduled to report its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that Caesars Entertainment will report full year sales of $8.67 billion for the current financial year, with estimates ranging from $8.47 billion to $8.77 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.83 billion, with estimates ranging from $8.65 billion to $8.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Thursday, February 21st. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Caesars Entertainment had a net margin of 3.61% and a negative return on equity of 4.12%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company posted $2.48 earnings per share. Caesars Entertainment’s revenue for the quarter was up 11.3% on a year-over-year basis.

Several equities analysts have weighed in on CZR shares. BidaskClub lowered Caesars Entertainment from a “sell” rating to a “strong sell” rating in a report on Thursday, December 13th. Zacks Investment Research lowered Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Deutsche Bank reduced their price objective on Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 7th. Bank of America lowered Caesars Entertainment from a “buy” rating to a “neutral” rating and increased their price objective for the company from $8.75 to $9.00 in a report on Wednesday, January 16th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $13.00 price objective on shares of Caesars Entertainment in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.75.

In other news, VP Les Ottolenghi sold 28,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $8.61, for a total value of $245,385.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 97,460 shares of company stock valued at $840,337 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. AlphaCrest Capital Management LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth $74,000. Lehman & Derafelo Financial Resources LLC purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth $75,000. Lehman Financial Resources Inc. purchased a new stake in shares of Caesars Entertainment in the third quarter worth $123,000. Alps Advisors Inc. purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth $85,000. Finally, BT Wealth Management LLC purchased a new stake in shares of Caesars Entertainment in the fourth quarter worth $118,000.

Shares of NASDAQ CZR opened at $8.67 on Friday. Caesars Entertainment has a 1-year low of $5.84 and a 1-year high of $13.54. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.11 and a current ratio of 1.13.

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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