Equities research analysts expect Caesars Entertainment Co. (NASDAQ:CZR) to announce earnings of ($0.10) per share for the current quarter, according to Zacks. Five analysts have provided estimates for Caesars Entertainment’s earnings. The lowest EPS estimate is ($0.23) and the highest is $0.02. Caesars Entertainment reported earnings of $0.14 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 171.4%. The business is expected to issue its next quarterly earnings results on Wednesday, March 6th.
On average, analysts expect that Caesars Entertainment will report full-year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.01 to $0.19. For the next year, analysts expect that the company will post earnings of ($0.10) per share, with EPS estimates ranging from ($0.50) to $0.51. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Caesars Entertainment.
CZR has been the subject of a number of analyst reports. BidaskClub lowered shares of Caesars Entertainment from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. Zacks Investment Research lowered shares of Caesars Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Deutsche Bank reduced their price target on shares of Caesars Entertainment from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Bank of America lowered shares of Caesars Entertainment from a “buy” rating to a “neutral” rating and increased their price target for the stock from $8.75 to $9.00 in a research report on Wednesday, January 16th. Finally, Oppenheimer set a $15.00 price target on shares of Caesars Entertainment and gave the stock a “buy” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.00.
CZR stock traded up $0.08 during mid-day trading on Monday, reaching $9.40. 15,918,912 shares of the stock traded hands, compared to its average volume of 30,323,961. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 5.93. Caesars Entertainment has a 52-week low of $5.84 and a 52-week high of $13.54. The firm has a market capitalization of $6.24 billion, a PE ratio of -2.79 and a beta of 1.31.
In related news, Director Thomas M. Benninger purchased 41,000 shares of the stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $7.79 per share, for a total transaction of $319,390.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marco Roca sold 17,834 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $8.21, for a total value of $146,417.14. The disclosure for this sale can be found here. Insiders purchased 81,000 shares of company stock worth $585,190 in the last 90 days. 0.92% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CZR. Alps Advisors Inc. acquired a new position in Caesars Entertainment during the fourth quarter valued at approximately $85,000. Levin Capital Strategies L.P. acquired a new stake in shares of Caesars Entertainment in the third quarter worth $102,000. Lehman Financial Resources Inc. acquired a new stake in shares of Caesars Entertainment in the third quarter worth $123,000. M&T Bank Corp grew its stake in shares of Caesars Entertainment by 44.4% in the fourth quarter. M&T Bank Corp now owns 19,854 shares of the company’s stock worth $136,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in shares of Caesars Entertainment in the third quarter worth $148,000.
Caesars Entertainment Company Profile
Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 36,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service.
Further Reading: How Do Front-End Loads Impact an Investment?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Caesars Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesars Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.