Wall Street analysts forecast that Caesars Entertainment Corporation (NASDAQ:CZR) will announce $2.12 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Caesars Entertainment Corporation’s earnings, with the lowest sales estimate coming in at $2.10 billion and the highest estimate coming in at $2.14 billion. Caesars Entertainment Corporation reported sales of $1.23 billion during the same quarter last year, which would suggest a positive year over year growth rate of 72.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Caesars Entertainment Corporation will report full-year sales of $2.12 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will post sales of $8.68 billion per share, with estimates ranging from $8.66 billion to $8.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Caesars Entertainment Corporation.
Caesars Entertainment Corporation (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, May 2nd. The company reported ($3.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $4.25. The company had revenue of $963 million during the quarter.
Several analysts recently weighed in on the company. Zacks Investment Research lowered Caesars Entertainment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub lowered Caesars Entertainment Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Wolfe Research assumed coverage on Caesars Entertainment Corporation in a research note on Friday, July 21st. They issued an “outperform” rating and a $16.00 price objective on the stock. Imperial Capital assumed coverage on Caesars Entertainment Corporation in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $15.50 price objective on the stock. Finally, ValuEngine raised Caesars Entertainment Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $14.90.
Shares of Caesars Entertainment Corporation (CZR) traded down 1.21% during mid-day trading on Friday, reaching $12.20. The company’s stock had a trading volume of 2,191,830 shares. The firm’s market cap is $1.82 billion. The company has a 50-day moving average of $12.46 and a 200-day moving average of $10.59. Caesars Entertainment Corporation has a 12 month low of $5.39 and a 12 month high of $13.45.
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Several hedge funds have recently made changes to their positions in CZR. NGAM Advisors L.P. purchased a new stake in shares of Caesars Entertainment Corporation during the second quarter worth approximately $2,047,000. Russell Investments Group Ltd. purchased a new stake in shares of Caesars Entertainment Corporation during the second quarter worth approximately $586,000. Point72 Asset Management L.P. raised its stake in shares of Caesars Entertainment Corporation by 167.2% in the first quarter. Point72 Asset Management L.P. now owns 1,435,644 shares of the company’s stock worth $13,710,000 after buying an additional 898,444 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Caesars Entertainment Corporation by 10.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 38,533 shares of the company’s stock worth $368,000 after buying an additional 3,525 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Caesars Entertainment Corporation by 537.2% in the first quarter. Bank of America Corp DE now owns 270,663 shares of the company’s stock worth $2,585,000 after buying an additional 332,569 shares during the last quarter. 67.46% of the stock is currently owned by hedge funds and other institutional investors.
Caesars Entertainment Corporation Company Profile
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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