Caesars Entertainment Corporation (CZR) Expected to Post Quarterly Sales of $2.13 Billion
Wall Street analysts predict that Caesars Entertainment Corporation (NASDAQ:CZR) will post $2.13 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Caesars Entertainment Corporation’s earnings. The highest sales estimate is $2.15 billion and the lowest is $2.10 billion. Caesars Entertainment Corporation reported sales of $986.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 116%. The company is scheduled to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Caesars Entertainment Corporation will report full year sales of $2.13 billion for the current financial year, with estimates ranging from $8.39 billion to $8.40 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $8.69 billion per share, with estimates ranging from $8.66 billion to $8.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Caesars Entertainment Corporation.
Caesars Entertainment Corporation (NASDAQ:CZR) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.47. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $2.11 billion.
A number of equities analysts have commented on CZR shares. Imperial Capital started coverage on shares of Caesars Entertainment Corporation in a research report on Wednesday, July 19th. They set an “outperform” rating and a $15.50 price objective for the company. Wolfe Research started coverage on shares of Caesars Entertainment Corporation in a research report on Friday, July 21st. They set an “outperform” rating and a $16.00 price objective for the company. Zacks Investment Research cut shares of Caesars Entertainment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine cut shares of Caesars Entertainment Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, BidaskClub cut shares of Caesars Entertainment Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.58.
Shares of Caesars Entertainment Corporation (NASDAQ CZR) traded down 3.00% during mid-day trading on Wednesday, hitting $11.30. 3,029,799 shares of the stock were exchanged. Caesars Entertainment Corporation has a 12-month low of $5.39 and a 12-month high of $13.45. The firm has a 50-day moving average price of $12.28 and a 200 day moving average price of $10.86. The company’s market capitalization is $1.69 billion.
Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in Caesars Entertainment Corporation by 61.1% in the second quarter. Capital Research Global Investors now owns 5,639,686 shares of the company’s stock worth $67,676,000 after buying an additional 2,139,086 shares during the period. Vanguard Group Inc. increased its stake in Caesars Entertainment Corporation by 7.6% in the second quarter. Vanguard Group Inc. now owns 4,910,696 shares of the company’s stock worth $58,929,000 after buying an additional 346,270 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in Caesars Entertainment Corporation during the second quarter worth $51,714,000. Eagle Asset Management Inc. purchased a new stake in Caesars Entertainment Corporation during the second quarter worth $18,119,000. Finally, Nicholas Investment Partners LP purchased a new stake in Caesars Entertainment Corporation during the second quarter worth $18,000,000. 68.38% of the stock is owned by hedge funds and other institutional investors.
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About Caesars Entertainment Corporation
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 facilities include gaming offerings, food and beverage outlets, hotel and convention space, and non-gaming entertainment options.
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