Wall Street analysts expect Caesars Entertainment, Inc. (NASDAQ:CZR) to announce $2.27 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Caesars Entertainment's earnings, with the highest sales estimate coming in at $2.29 billion and the lowest estimate coming in at $2.23 billion. Caesars Entertainment posted sales of $126.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1,694.9%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, August 3rd.
On average, analysts expect that Caesars Entertainment will report full year sales of $9.05 billion for the current fiscal year, with estimates ranging from $8.52 billion to $10.36 billion. For the next financial year, analysts anticipate that the business will report sales of $10.94 billion, with estimates ranging from $9.71 billion to $12.18 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that follow Caesars Entertainment.
Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings results on Tuesday, May 4th. The company reported ($2.03) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($1.69) by ($0.34). Caesars Entertainment had a negative net margin of 42.64% and a negative return on equity of 53.13%. The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The business's revenue for the quarter was up 259.2% on a year-over-year basis.
CZR has been the subject of a number of research analyst reports. Truist upped their target price on Caesars Entertainment from $100.00 to $120.00 in a research report on Tuesday, April 27th. TheStreet raised shares of Caesars Entertainment from a "d+" rating to a "c" rating in a report on Monday, May 24th. Zacks Investment Research upgraded shares of Caesars Entertainment from a "hold" rating to a "buy" rating and set a $102.00 price target for the company in a research note on Wednesday. Redburn Partners began coverage on shares of Caesars Entertainment in a research note on Tuesday, April 27th. They issued a "neutral" rating on the stock. Finally, KeyCorp increased their target price on shares of Caesars Entertainment from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of "Buy" and a consensus price target of $103.50.
Shares of CZR stock opened at $90.31 on Friday. The business's 50-day moving average price is $102.05. The company has a debt-to-equity ratio of 5.71, a quick ratio of 2.60 and a current ratio of 2.62. Caesars Entertainment has a 1 year low of $29.06 and a 1 year high of $113.46. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of -8.01 and a beta of 3.18.
In other news, insider Edmund L. Quatmann, Jr. sold 400 shares of Caesars Entertainment stock in a transaction on Friday, May 14th. The stock was sold at an average price of $100.01, for a total transaction of $40,004.00. Following the completion of the transaction, the insider now owns 32,863 shares of the company's stock, valued at approximately $3,286,628.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephanie Lepori sold 2,500 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $107.49, for a total transaction of $268,725.00. Following the completion of the sale, the chief accounting officer now directly owns 25,242 shares in the company, valued at $2,713,262.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,520 shares of company stock valued at $4,337,379. 0.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of CZR. Janus Henderson Group PLC increased its position in Caesars Entertainment by 33.3% during the 1st quarter. Janus Henderson Group PLC now owns 4,656,892 shares of the company's stock worth $407,245,000 after purchasing an additional 1,163,085 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Caesars Entertainment by 40.8% during the first quarter. Geode Capital Management LLC now owns 4,417,604 shares of the company's stock worth $385,791,000 after buying an additional 1,279,033 shares in the last quarter. Northern Trust Corp raised its position in shares of Caesars Entertainment by 3.6% in the first quarter. Northern Trust Corp now owns 2,900,792 shares of the company's stock valued at $253,676,000 after buying an additional 101,115 shares during the last quarter. Norges Bank purchased a new position in shares of Caesars Entertainment during the fourth quarter valued at approximately $132,892,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Caesars Entertainment by 2.6% during the first quarter. Nuveen Asset Management LLC now owns 1,516,066 shares of the company's stock valued at $132,580,000 after buying an additional 38,583 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.
Caesars Entertainment Company Profile
Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company operates casinos, including poker, keno, and race and online sportsbooks; dining venues, bars, nightclubs, and lounges; hotels; and entertainment venues. It also offers staffing and management services; accessories, souvenirs, and decorative items through retail stores; and online sports betting and iGaming services.
See Also: What is a management fee?
Get a free copy of the Zacks research report on Caesars Entertainment (CZR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Caesars Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Caesars Entertainment wasn't on the list.
While Caesars Entertainment currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here