Caesars Entertainment, Inc. (NASDAQ:CZR) Expected to Announce Quarterly Sales of $2.63 Billion

Wall Street brokerages predict that Caesars Entertainment, Inc. (NASDAQ:CZR) will report sales of $2.63 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Caesars Entertainment’s earnings. The lowest sales estimate is $2.49 billion and the highest is $2.73 billion. Caesars Entertainment posted sales of $1.38 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 90.6%. The business is scheduled to issue its next earnings results on Thursday, November 4th.

On average, analysts expect that Caesars Entertainment will report full-year sales of $9.64 billion for the current year, with estimates ranging from $9.34 billion to $9.88 billion. For the next fiscal year, analysts expect that the business will post sales of $11.03 billion, with estimates ranging from $10.37 billion to $11.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, August 3rd. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.74. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Caesars Entertainment had a negative return on equity of 38.37% and a negative net margin of 25.91%.

CZR has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Caesars Entertainment from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, June 10th. Cowen raised their target price on Caesars Entertainment from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, September 10th. Bank of America upgraded Caesars Entertainment from a “neutral” rating to a “buy” rating in a research report on Monday, August 9th. Morgan Stanley lifted their price objective on Caesars Entertainment from $124.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 4th. Finally, Wells Fargo & Company started coverage on Caesars Entertainment in a research report on Tuesday, September 14th. They set an “overweight” rating and a $137.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Caesars Entertainment currently has an average rating of “Buy” and a consensus target price of $114.75.

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 842 shares of the business’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $90.83, for a total transaction of $76,478.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Pegram sold 5,000 shares of the business’s stock in a transaction on Friday, September 17th. The stock was sold at an average price of $110.48, for a total transaction of $552,400.00. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Several hedge funds have recently made changes to their positions in CZR. First Trust Advisors LP lifted its position in shares of Caesars Entertainment by 44.7% during the first quarter. First Trust Advisors LP now owns 637,174 shares of the company’s stock worth $5,537,000 after purchasing an additional 196,890 shares in the last quarter. US Bancorp DE lifted its holdings in Caesars Entertainment by 37.2% in the first quarter. US Bancorp DE now owns 1,365 shares of the company’s stock valued at $119,000 after buying an additional 370 shares during the period. Commonwealth Equity Services LLC increased its stake in Caesars Entertainment by 1.8% in the first quarter. Commonwealth Equity Services LLC now owns 9,597 shares of the company’s stock valued at $839,000 after purchasing an additional 173 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Caesars Entertainment by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,136 shares of the company’s stock valued at $4,472,000 after purchasing an additional 3,768 shares in the last quarter. Finally, Standard Life Aberdeen plc bought a new stake in Caesars Entertainment in the first quarter valued at approximately $5,354,000. Institutional investors own 92.41% of the company’s stock.

Caesars Entertainment stock traded up $4.31 during midday trading on Friday, hitting $109.35. 66,188 shares of the company were exchanged, compared to its average volume of 3,112,780. The firm has a market capitalization of $23.34 billion, a PE ratio of -10.84 and a beta of 3.20. Caesars Entertainment has a fifty-two week low of $43.07 and a fifty-two week high of $113.46. The business has a fifty day simple moving average of $95.55 and a two-hundred day simple moving average of $97.64. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.15 and a current ratio of 1.16.

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Earnings History and Estimates for Caesars Entertainment (NASDAQ:CZR)

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