10.05 0.00 (0.00%)
After hours: 4:31PM EDT
|Bid||9.95 x 1400|
|Ask||10.05 x 900|
|Day's Range||9.90 - 10.05|
|52 Week Range||8.55 - 14.50|
|PE Ratio (TTM)||3.58|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.71|
LAS VEGAS, Aug. 10, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (CZR) ("Caesars Entertainment" or "Caesars") today announced that its Board of Directors has increased its share repurchase authorization to $750 million of the company's outstanding common stock. Since announcing the initial $500 million repurchase authorization on May 2, 2018, the company has acquired 23 million shares of its common stock, which equates to approximately 3.3% of the company's outstanding shares.
Short interest is moderate for CZR with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on July 23. ETFs that hold CZR had net inflows of $648 million over the last one-month.
LAS VEGAS, Aug. 9, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (CZR), the world's most diversified gaming and entertainment company, today announced domestic partner benefits for its team members, beginning in 2019.
Two top-ranking executives at Caesars Entertainment (CZR) snapped up shares of the gambling company days after it triggered a slide in the stock by offering a disappointing outlook for third-quarter operations on the Las Vegas Strip, according to filings with the Securities and Exchange Commission. The stock fell to a 52-week intraday low of $8.55 on Aug. 1 after management provided the outlook, even though the company also reported upbeat second-quarter earnings. JPMorgan analyst Daniel Politzer attributed the decline "to concerns over guidance/forecasting, credibility, and fear that we could be entering a period of pricing pressure on the Strip (with the leisure segment particularly susceptible) that could be specific to CZR and/or the LV Strip." Caesars Chief Executive and President Mark P. Frissora leapt into action on Aug. 3 as the weakness continued.
Well, that's one way to prop up a faltering stock. Caesars Entertainment Corp. CEO Mark P. Frissora has purchased $954,820 worth of stock in his own company, according to a filing with the U.S.
U.K. bookmaker William Hill is planning a major U.S. expansion after rival Paddy Power announced a sports betting partnership with Boyd Gaming.
Casino gaming stocks fell hard Wednesday amid the crush of second-quarter results. Apple and Paycom Software, however, broke out.
The NBA announced that MGM Resorts International will be the league's first official gaming partner, marking the first such deal with a U.S. pro-sports league.
Casino stocks plunged as Caesars Entertainment gave weak guidance and Chinese gambling mecca Macau revenue came in light again. Wynn Resorts earnings missed badly after the close.
MGM Resorts became the latest gambling giant to warn of waning demand at Las Vegas casinos, joining peers Wynn, Las Vegas Sands and Caesars.
Shares in Caesars Entertainment (NASDAQ:CZR) crashed as the company gave a downbeat view of hotel bookings in Las Vegas, driving the CZR stock down 15% in one day. The weakness quickly spread to other gambling stocks, as Wynn Resorts (NASDAQ:WYNN) missed on earnings, and other gambling stocks fell in sympathy. CZR stock halted three times during the day as investors rushed for the exits, the stock trading as low as $8.65-per-share. This came despite a profit of $29 million, 4-cents-per-share, on revenue of $2.12 billion. The numbers were considered a beat on both revenue and earnings.
Investors need to pay close attention to Caesars Entertainment (CZR) stock based on the movements in the options market lately.
Apple gained 5.9% for the session, and Sodastream International (NASDAQ:SODA) popped more than 26%, yet it wasn’t enough to overcome the performances of the likes of Caesars Entertainment (NASDAQ:CZR) or Chesapeake Energy (NYSE:CHK). To that end, stocks charts of CIGNA (NYSE:CI), Realty Income (NYSE:O) and Albemarle (NYSE:ALB) are actually looking like the top trading prospects as Thursday’s action begins.
Now four A.C. casinos are offering sports betting, and even more are expected to start taking wagers on the NFL, NBA and more in the coming weeks.
NEW YORK, NY / ACCESSWIRE / August 2, 2018 / Worse than expected numbers from Macau in July as well as executives warning about the fourth quarter, sent shares of Caesars Entertainment Corporation down. Other casino stocks including Wynn also sank alongside. Wynn reported its own quarterly results that didn't beat expectations.
Caesars Entertainment's stock fell sharply Wednesday after the casino titan said it expects weak results in the current quarter because of fewer scheduled events and lower room rates in Las Vegas. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share. While the results topped Wall Street expectations, executives rattled investors by saying on a conference call that they are seeing lower demand in Las Vegas for July and August.
Carolyn Goodman, the mayor of Las Vegas, discusses whether Las Vegas slowdown fears are overblown, as major casino stocks are down in the last month due to a lack of scheduled events in July and August.
Jon Taffer, host of Bar Rescue and founder of Taffer Dynamics, joins the 'Closing Bell' team to talk about the state and future of the Vegas strip.