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

Analysts expect that Caesars Entertainment, Inc. (NASDAQ:CZR) will post $2.63 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Caesars Entertainment’s earnings, with the lowest sales estimate coming in at $2.52 billion and the highest estimate coming in at $2.73 billion. Caesars Entertainment reported sales of $1.50 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 75.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 22nd.

According to Zacks, analysts expect that Caesars Entertainment will report full-year sales of $9.78 billion for the current year, with estimates ranging from $9.53 billion to $9.96 billion. For the next year, analysts expect that the company will report sales of $11.11 billion, with estimates ranging from $10.58 billion to $11.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Caesars Entertainment.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, November 2nd. The company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($1.16). Caesars Entertainment had a negative net margin of 13.60% and a negative return on equity of 21.28%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company earned ($6.09) EPS.

A number of research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Caesars Entertainment from $112.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, October 27th. Truist decreased their target price on shares of Caesars Entertainment from $140.00 to $110.00 in a research report on Thursday. Citigroup assumed coverage on shares of Caesars Entertainment in a research report on Tuesday, December 7th. They set a “buy” rating and a $150.00 price target on the stock. Truist Securities reduced their price target on shares of Caesars Entertainment from $140.00 to $110.00 in a research report on Thursday. Finally, KeyCorp increased their price target on shares of Caesars Entertainment from $125.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 6th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $126.94.

NASDAQ CZR opened at $82.84 on Friday. The firm’s 50-day moving average is $92.40 and its two-hundred day moving average is $98.72. Caesars Entertainment has a 12 month low of $66.34 and a 12 month high of $119.81. The company has a debt-to-equity ratio of 5.42, a current ratio of 1.19 and a quick ratio of 1.18. The stock has a market capitalization of $17.71 billion, a P/E ratio of -17.63 and a beta of 2.92.

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 5,279 shares of the stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $89.60, for a total value of $472,998.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in Caesars Entertainment by 5.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,303,624 shares of the company’s stock valued at $135,251,000 after purchasing an additional 65,383 shares during the last quarter. Twin Capital Management Inc. purchased a new position in shares of Caesars Entertainment during the third quarter worth approximately $2,541,000. Advisor Group Holdings Inc. grew its position in shares of Caesars Entertainment by 28.5% during the third quarter. Advisor Group Holdings Inc. now owns 38,057 shares of the company’s stock worth $4,273,000 after acquiring an additional 8,436 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Caesars Entertainment by 2.8% during the third quarter. New York State Common Retirement Fund now owns 234,538 shares of the company’s stock worth $26,334,000 after acquiring an additional 6,349 shares during the last quarter. Finally, Utah Retirement Systems grew its position in shares of Caesars Entertainment by 52.0% during the second quarter. Utah Retirement Systems now owns 38,000 shares of the company’s stock worth $3,943,000 after acquiring an additional 13,000 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.

About Caesars Entertainment

Caesars Holdings, Inc is a holding company, which engages in the provision of casino-entertainment and hospitality services. It operates through the following segments: Las Vegas, Other U.S., and All Other. The All Other segment includes managed and international properties as well as other business, such as Caesars Interactive Entertainment.

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