CZR - Caesars Entertainment Corporation
| Previous Close | 11.45 |
| Open | 11.53 |
| Bid | 11.50 x 1200 |
| Ask | 11.75 x 39400 |
| Day's Range | 11.42 - 11.55 |
| 52 Week Range | 5.84 - 12.23 |
| Volume | 14,359,018 |
| Avg. Volume | 21,683,796 |
| Market Cap | 7.828B |
| Beta (3Y Monthly) | 2.43 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.33 |
| Earnings Date | Oct 30, 2019 - Nov 4, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 11.67 |
- Bloomberg
Amazon, Swatch, Daimler and the Risks of a Global Recession
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates.In recent recessions, technology and finance were the triggers -- the internet bubble caused the 2000 market crash and subprime lending led to the 2008-2009 global financial crisis that spread to housing, manufacturing and consumer demand.“The financial sector was leading in 2002-2007. In this cycle, it’s the tech sector,” said Bloomberg Chief Equity Strategist Gina Martin Adams. Still, she cautioned that in spite of the warning signs, it may be too early to predict a recession, adding that “tech is the strength of the economy.”Here are five global companies that may stand to lose more than others:AmazonAmazon.com Inc. is among the most cyclical U.S. internet companies because the Seattle-based e-commerce giant relies heavily on consumer spending. It’s also been building its employee base, adding more than 600,000 jobs and hundreds of huge warehouses to store and ship products. Some of those costs are fixed, while others may be hard to reduce quickly if there’s a steep economic decline. It also faces regulatory risks.“Amazon’s near-term growth may be at risk as macroeconomic conditions worsen, regulatory scrutiny rises and spending cycles spark concern,” Jitendra Waral and April Kim, analysts at Bloomberg Intelligence, wrote in a recent note. “If demand were to slow amid Amazon’s increased spending on logistics, profit would face a double whammy.”One of Amazon’s fastest-growing new businesses -- digital advertising -- is also susceptible to economic ups and downs. Still, Amazon is riding a broad e-commerce growth trend that is unlikely to reverse during a recession.SwatchMakers of luxury items tend to endure more risks in a recession than producers of mass-market consumer goods. This time around, the effects would be compounded by U.S.-China trade tensions and protests in Hong Kong, which has already hurt the city’s economic outlook.Swatch Group AG, the biggest maker of Swiss timepieces, has more exposure to Hong Kong than any other luxury company, generating more than a third of the group’s sales in the Greater China region, according to Kepler Cheuvreux analyst Jon Cox. The maker of Omega watches also has a smaller presence in the steadier luxury categories of jewelry and fashion than rival Richemont, which owns brands including Chloe, Van Cleef & Arpels and Cartier.The high-end segment has also been far less elastic in a downturn. In 2009, Swiss watch exports slumped 22% amid the financial crisis.So far, the economic slowdown in China has done little to damp the appetite of Chinese consumers for luxury goods. But watchmakers are feeling the effects of the sometimes violent demonstrations in Hong Kong, their largest export market. Timepiece sales there could plunge as much as 40% in the second half, Cox said.Swatch also faces sluggish watch sales in Europe. If the U.S. takes a turn for the worse, the industry could be hit by a reversal of the recovery in its second-biggest market.Swatch ExportsDaimlerThe German corporate giant just doesn’t just face a slowdown in its home market -- it also has substantial exposure to a potential downturn in the U.S. The automaker produces two high-margin SUVs in Alabama and its Freightliner division is the leader in the North American heavy-truck market. Demand for transportation of goods tends to closely mirror broader economic swings and analysts say heavy-truck sales in the region have peaked following years of robust growth.Daimler AG relies on the U.S. for about a quarter of the group’s revenue last year. That’s more than Germany or China, where it operates a joint venture with BAIC.After two back-to-back profit warnings following their debut in May, Daimler’s new leadership duo has vowed to improve efficiency. Profitability at the Mercedes-Benz passenger-car division has been sub-par compared with its peers, and the car unit is up against waning demand in its two biggest markets by volume: China and the U.S.CaesarsAn economic downturn could be particularly ill-timed for Caesars Entertainment Corp. The largest owner of casinos in the U.S. is about to increase its debt load again to finance a megadeal, after struggling for years to recover from a 2008 leveraged buyout that left it saddled with debt at the height of the Great Recession. (Caesars ended up putting its largest division into bankruptcy to clean up its balance sheet.)Caesars is set to merge with Eldorado Resorts Inc. early next year in a deal that involves $8.2 billion in new financing, amid rising competition from new casinos, both online and at its properties. Unlike some of its peers that focus more on luxury, such as Wynn Resorts Ltd., Caesars operates a lot of casinos in small markets including Tunica, Mississippi, and Metropolis, Illinois. Combined with Eldorado, it will have 60 owned, operated and managed casino–resorts across 16 states.And even the Las Vegas Strip, once considered invincible as a gambling destination, has yet to see casino revenue return to its 2007 high.Toll BrothersA major economic slowdown would almost certainly hit home sales and prices for builders like Toll Brothers Inc. “If we do go into a recession, housing isn’t going to be the cause,” said Drew Reading, an analyst at Bloomberg Intelligence. “It’s going to be the victim.”The bigger challenge for the industry right now is affordability, especially in high-cost metros on the West Coast. Toll Brothers, the largest U.S. luxury homebuilder, has been trying to diversify geographically. But it’s still highly reliant on California, where it got nearly a third of its revenue last year.One the plus side: Single-family housing starts still haven’t returned to historical levels more than a decade after the financial crisis, which means homebuilders won’t be sitting on as much supply if the economy takes a turn for the worst.\--With assistance from Christoph Rauwald, Kevin Miller, Corinne Gretler, Noah Buhayar, Ian King, Christopher Palmeri and Alistair Barr.To contact the reporter on this story: Cécile Daurat in Wilmington at cdaurat@bloomberg.netTo contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Linus Chua, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Def Leppard Kicks Off Headlining Las Vegas Residency At Planet Hollywood Resort & Casino
TICKETS FOR SHOWS THROUGH SEPT. 7 ARE ON SALE NOW LAS VEGAS , Aug. 16, 2019 /PRNewswire/ -- Wednesday evening, Rock & Roll Hall of Fame Inductees & legendary British rock 'n' roll icons Def Leppard launched ...
- ACCESSWIRE
Shareholder Investigation Alert: Halper Sadeh LLP is Investigating Whether the Sale of These Companies is Fair to Shareholders - CZR, LTXB, RTEC
NEW YORK, NY / ACCESSWIRE / August 16, 2019 / Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: Caesars Entertainment Corporation (NASDAQ:CZR) ...
- TipRanks
Buy These 3 Services Stocks Based on Insider Activity
When looking for new investment ideas, following corporate insider activity can provide valuable insights. A large buy from someone with in depth knowledge of the company might indicate that a stock is set to outperform. Insider buys can also impact share prices. After two directors purchased shares of Cars.com Inc. (CARS) on August 13, the stock surged 3%. We used all of the above strategies to find 3 hot services stocks insiders are buying. Red Rock Resorts Inc. (RRR)Red Rock Resorts is a gaming, management and development company. It’s best known for operating casinos in Las Vegas and Reno, Nevada. On August 8 and 9, Directors Lorenzo Fertitta and Frank Fertitta III purchased 760,000 shares of RRR at an average price of 18.61 per share. They now own 66% of the company, with the buy costing more than $14 million. The buy sent shares up 2%. The purchase comes shortly after the company reported a second quarter revenue beat combined with an earnings miss on August 6. Despite mixed results from its second quarter, management maintains that its newly renovated Palms casino is on track to generate a strong high-single-digit return next year. Mutual fund manager, Ron Baron, sees the casino as an important catalyst for the company. “Its Palms casino should generate more cash flow, which we expect Red Rock to use to pay down debt and reduce leverage,” he explained. Carlo Santarelli, a five-star analyst according to TipRanks, agrees that RRR’s Palms casino could drive continuous long-term growth for the company. On August 12, the Deutsche Bank analyst reiterated his Buy rating and $24 price target. He thinks share prices could jump 23% over the next twelve months.The rest of the Street is cautiously optimistic about RRR. It has a ‘Moderate Buy’ analyst consensus and a $28 average price target, suggesting 42% upside potential. Caesars Entertainment Corporation (CZR) Caesars is a gaming hotel and casino corporation that operates more than 50 properties as well as seven golf courses.Following a disappointing earnings release on August 5, hedge fund guru, Carl Icahn, increased his stake in the company by 15 million shares, making him a 17% owner. At an average share price of $8.45, the buy set him back $126.8 million. Despite posting a greater loss than analysts originally predicted, revenue did increase 5% from the prior-year quarter to reach $2 billion. Management highlighted Centaur as well as the strength of its Las Vegas hotel and food and beverage businesses as the key drivers of revenue growth. CZR is also expecting to get a boost after its $17 billion merger with Eldorado Resorts (ERI) is finalized.“As we work toward successful completion of the proposed merger with Eldorado Resorts, the management team and I remain focused on improving the company's operations and financial profile through incremental revenue opportunities and operating efficiencies,” CEO Tony Rodio added. It should be noted that Icahn pushed the company to oust former CEO Mark Frissora and replace him with the more deal-oriented Rodio. Santarelli, who also covers CZR, agrees that its strong fundamentals and prospects from its ERI merger make it a compelling buy. On August 7, he maintained his Buy rating and $13 price target. The price target implies share prices could gain 12% over the next twelve months. CZR has a ‘Moderate Buy’ analyst consensus and an average price target of $12, indicating 7% upside potential. Dish Network (DISH) The TV provider has struggled in the past to compete with streaming platforms such as Netflix (NFLX) and Hulu that have threatened its core business. However, it has made significant progress in its efforts to compete with its Sling TV service that allows customers to stream live TV channels. Corporate insiders believe that these efforts will ultimately pay off. From August 5-7, DISH’s Chairman and co-founder, Charles Ergen, bought 500,005 shares at an average price of $31.28 per share. The $15.7 million purchase cemented his standing as a more than 10% owner of the company as well as sent shares soaring by 4%. While DISH reported on July 29 that its second quarter saw a loss of 31,000 subscribers, Ergen sees potential coming from its foray into the wireless business. On July 24, the company announced that it will acquire $5 billion worth of assets from T-Mobile (TMUS) and Sprint (S). The assets include both the Boost Mobile segment of the business and spectrum assets. CEO Erik Carlson explained, “The wireless deal set us in a clear course to become a fourth wireless providers of the nation, and it’s going to happen quickly. I’m confident in our grafted fundamentals and I'm certainly confident in our ability to execute.”Five-star analyst, Colby Synesael, believes that this acquisition can give DISH the advantage it needs to compete. On July 30, he reiterated his Buy rating and raised the price target from $57 to $58. This move suggests that share prices could increase by a whopping 80% over the next twelve months. The Cowen & Co. analyst boasts an 82% success rate and gets an average return of 18% per rating.The TV provider is one of the riskier stocks on our list. It has a ‘Hold’ analyst consensus and a $37 average price target, suggesting 15% upside potential.
- Kiplinger
Earnings Reports for the Week of Aug. 12-17 (BABA, CGC, WMT)
Check out our weekly earnings calendar and read the latest quarterly earnings previews.
- Financial Times
William Hill profit hit by UK crackdown on betting terminals
William Hill, the UK bookmaker, took a significant hit to profit as it overhauled the business following new limits to stakes permitted on lucrative betting machines. William Hill’s total revenues for the period rose 1 per cent to £811m, just behind consensus estimates.
- Barrons.com
William Hill is the New $1 Billion Game in Town for U.S. Sports Gamblers
William Hill’s aggressive expansion into the U.S. could see its sports books break through the $1 billion barrier across several states that recently legalized sports gambling, including New Jersey and Mississippi. The British bookmaker has been growing quickly in the sports-obsessed U.S. market as it looks to soften the impact of a regulatory crackdown at home that is hitting revenues and forcing the closure of almost a third of its stores. Now (WMH) (ticker: WMH.U.K.), which is scheduled to report its half-year results on Friday, is hoping it can generate around 45% of its revenues in the U.S., where it is positioning itself in time for the start of the new N.F.L. season in September by opening dozens of new sports books.
Motley FoolEldorado Resorts (ERI) Q2 2019 Earnings Call Transcript
ERI earnings call for the period ending June 30, 2019.
Motley FoolCaesars Entertainment (CZR) Q2 2019 Earnings Call Transcript
CZR earnings call for the period ending June 30, 2019.
- TheStreet.com
[video]Casino Operator Caesars Posts Wider-Than-Expected Loss
Casino operator Caesars Entertainment posted an adjusted loss of 6 cents a share in the second quarter, wider than analysts' calls for a loss of 3 cents. Revenue in the quarter rose to $2.22 billion, up 4.
- Zacks
Caesars Entertainment (CZR) Reports Q2 Loss, Tops Revenue Estimates
Caesars (CZR) delivered earnings and revenue surprises of -100.00% and 1.32%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
- PR Newswire
Caesars Entertainment Reports Financial Results for the Second Quarter of 2019
Announced Combination with Eldorado Resorts to Create the Largest Owner and Operator of U.S. Gaming Assets Recorded Strong Performance in Las Vegas in the Second Quarter Continued to Expand Sports Betting ...
- GlobeNewswire
Rigrodsky & Long, P.A. Reminds Investors of Investigations of Mergers
WILMINGTON, Del., Aug. 01, 2019 -- Rigrodsky & Long, P.A. announces that it is investigating: Carolina Trust BancShares, Inc. (NASDAQ CM: CART) regarding possible.
- Zacks
What's in Store for Caesars Entertainment (CZR) Q2 Earnings?
Caesars Entertainment's (CZR) top line in second-quarter fiscal 2019 is likely to be driven by robust consumer demand environment in Las Vegas and the company's focus on operation execution.
- ACCESSWIRE
Investor Rights Alert: Halper Sadeh LLP Reminds Investors That It Is Investigating Whether the Sale of These Companies Is Fair to Shareholders - LTXB, CZR, GHDX
NEW YORK, NY / ACCESSWIRE / August 1, 2019 / Halper Sadeh LLP, a global investor rights law firm, reminds investors that it is investigating the following companies: LegacyTexas Financial Group, Inc. (NASDAQ: ...
- GlobeNewswire
SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of the Following Acquisitions
WILMINGTON, Del., July 31, 2019 -- Rigrodsky & Long, P.A. announces that it is investigating: Genomic Health, Inc. (NASDAQ GS: GHDX) regarding possible breaches of.
- PR Newswire
Caesars Entertainment Announces Release of its 10th Annual Corporate Social Responsibility Report, Marking a Decade of Positive Impact
LAS VEGAS, July 31, 2019 /PRNewswire/ -- Caesars Entertainment Corporation (CZR) ("Caesars" or the "Company"), one of the world's most diversified gaming and entertainment companies, today published its annual PEOPLE PLANET PLAY corporate social responsibility (CSR) report, marking a decade of positive impact. "Caesars Entertainment has tens-of-thousands of dedicated employees who, with their sustained focus on corporate social responsibility, have accomplished a lot over the last ten years," said Tony Rodio, CEO of Caesars Entertainment. Leadership in Responsible Business: Caesars was recognized by the Civic 50 as one of the "Most Community Minded Companies" for the fifth consecutive year and as a "Top 100" Corporate Citizen by the Russell 1000. Caesars continues to be a leader in Responsible Gaming.
- GlobeNewswire
Shareholder Investigation Alert: Halper Sadeh LLP Reminds Investors That it is Investigating Whether the Sale of These Companies is Fair to Shareholders – CZR, DFRG, BID, LTXB
NEW YORK, July 31, 2019 -- Halper Sadeh LLP, a global investor rights law firm, reminds investors that it is investigating the following companies: Caesars Entertainment.
- Zacks
Gambling Stock Roundup: MGM & LVS' Q2 Picture Disappoints, MLCO & MCRI Earnings Beat
MGM Resorts International (MGM) and Las Vegas Sands Corp (LVS) reports lower-than-expected quarterly numbers in Q2.
- Zacks
Analysts Estimate Caesars Entertainment (CZR) to Report a Decline in Earnings: What to Look Out for
Caesars (CZR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- PR Newswire
Lifshitz & Miller LLP Announces Investigation of Caesars Entertainment Corporation, Del Frisco's Restaurant Group, Inc., Diebold Nixdorf, Inc., FedEx Corporation, Oasmia Pharmaceuticals, Shore Community Bancorp, Verb Technology Company and WageWorks, Inc.
NEW YORK , July 26, 2019 /PRNewswire/ -- Caesars Entertainment Corporation (CZR) Lifshitz & Miller announces investigation into possible breach of fiduciary duties in connection with the sale of CZR to ...
- Zacks
MGM Resorts (MGM) Earnings & Revenues Miss Estimates in Q2
MGM Resorts' (MGM) second-quarter 2019 revenues gain from a robust performance by MGM China despite missing estimates.
- Motley Fool
Eldorado Resorts Has Risky Plan for Caesars Entertainment Buyout
We've seen leveraged buyouts fail before in the casino industry.
