Caesars Entertainment Corp. (NYSE:CZR)‘s stock had its “underperform” rating reiterated by research analysts at Bank of America Corp. in a report released on Thursday, Analyst Ratings Network reports.
The analysts wrote, “Caesars is moving toward the distribution of subscription rights for ‘CAC’ through which shareholders have the right to invest in Caesars Growth Partners (CGP) by exchanging that right for $8.64 in cash. Below we update our sum-of-the-parts for CGP and our model for recent deals but maintain our Underperform and $11 PO.”
Shares of Caesars Entertainment Corp. (NYSE:CZR) traded up 0.98% on Thursday, hitting $20.60. The stock had a trading volume of 1,793,550 shares. Caesars Entertainment Corp. has a 52 week low of $4.52 and a 52 week high of $26.57. The stock has a 50-day moving average of $22.13 and a 200-day moving average of $17.02. The company’s market cap is $2.602 billion. Caesars Entertainment Corp. also was the recipient of unusually large options trading activity on Monday. Traders bought 63,429 call options on the stock. This is an increase of approximately 917% compared to the average volume of 6,236 call options.
Caesars Entertainment Corp. (NYSE:CZR) last released its earnings data on Monday, July 29th. The company reported ($1.69) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.57) by $0.12. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted ($1.93) earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that Caesars Entertainment Corp. will post $-6.68 earnings per share for the current fiscal year.
Caesars Entertainment Corporation provides casino entertainment services. Its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, managed casinos, combination greyhound racetrack and casino, combination thoroughbred racetrack and casino, and harness racetrack and casino, hotel and convention space, restaurants, and non-gaming entertainment facilities.
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