Brokerages Expect Caesars Entertainment Co. (NASDAQ:CZR) Will Announce Quarterly Sales of $389.36 Million

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Wall Street analysts expect Caesars Entertainment Co. (NASDAQ:CZR) to announce $389.36 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Caesars Entertainment’s earnings, with the lowest sales estimate coming in at $200.40 million and the highest estimate coming in at $685.70 million. Caesars Entertainment posted sales of $2.22 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 82.5%. The firm is expected to issue its next earnings results on Monday, August 3rd.

On average, analysts expect that Caesars Entertainment will report full-year sales of $5.23 billion for the current financial year, with estimates ranging from $3.76 billion to $6.70 billion. For the next year, analysts forecast that the business will report sales of $7.15 billion, with estimates ranging from $6.46 billion to $7.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.20). The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.89 billion. Caesars Entertainment had a negative net margin of 9.33% and a negative return on equity of 7.07%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) earnings per share.

Several brokerages recently issued reports on CZR. Morgan Stanley increased their price objective on Caesars Entertainment from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. UBS Group cut their price objective on Caesars Entertainment from $13.75 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, May 27th. ValuEngine upgraded Caesars Entertainment from a “hold” rating to a “buy” rating in a report on Monday, June 1st. TheStreet lowered Caesars Entertainment from a “c” rating to a “d” rating in a report on Monday, April 6th. Finally, Deutsche Bank raised their target price on Caesars Entertainment from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Caesars Entertainment currently has an average rating of “Buy” and an average target price of $12.10.

Shares of NASDAQ:CZR opened at $12.14 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 8.10. Caesars Entertainment has a 1 year low of $3.22 and a 1 year high of $14.73. The business has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $11.18. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of -6.71 and a beta of 1.92.

Large investors have recently modified their holdings of the company. Amalgamated Bank grew its position in shares of Caesars Entertainment by 12.5% in the fourth quarter. Amalgamated Bank now owns 132,368 shares of the company’s stock valued at $1,800,000 after purchasing an additional 14,710 shares during the last quarter. IBM Retirement Fund acquired a new stake in shares of Caesars Entertainment in the first quarter valued at about $91,000. The Manufacturers Life Insurance Company grew its position in shares of Caesars Entertainment by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 802,266 shares of the company’s stock valued at $5,423,000 after purchasing an additional 16,250 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Caesars Entertainment by 33.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,308 shares of the company’s stock valued at $888,000 after purchasing an additional 32,863 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Caesars Entertainment by 3.0% in the first quarter. Nuveen Asset Management LLC now owns 2,021,258 shares of the company’s stock valued at $13,664,000 after purchasing an additional 59,052 shares during the last quarter.

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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