However, the stock price could fluctuate by $ 0.71 from the estimate as it is suggested by the standard deviation reading.
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The losses send Caesars Entertainment Corp down to a market cap of $1.14 billion.
Analysts were expecting the company to report earnings of 67 cents per share on $1.69 billion in revenue for the most recent quarter.
Income from operations was up 111.4% year-on-year to $42.5 million, while net income from continuing operations improved from a loss of $2.9 million in the third quarter of last year to a positive figure of $25.7 million this year. The shares closed down 0.15 points or 1.72% at $8.59 with 904,494 shares getting traded. During the same quarter in the previous year, the company posted ($6.29) EPS.
Separately, BTIG Research reiterated a “buy” rating and issued a $12.00 price objective on shares of Caesars Acquisition Company in a research report on Sunday. The firm has a 50 day moving average of $7.93 and a 200 day moving average of $7.88.
The group’s 2015 woes continue as the operator struggles to control its near $1 billion in debt commitments to bond holders attached to its bankrupt operating division “Caesars Entertainment Operating Co” (CEOC).
Caesars Acquisition Company (NASDAQ:CACQ) was formed to produce an equity investment in Caesars Growth Partners, LLC (CGP LLC), a joint venture between Caesars Entertainment Corporation and CAC. The facilities of the Company’s include resort and convention space, food and beverage outlets, gambling offerings, and non-gaming entertainment choices. Its business operations comprise Caesars Entertainment Resort Properties; Caesars Growth Partners Casino Properties and Developments; Caesars Interactive Entertainment and Caesars Entertainment Managing Company.
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CACQ also controls several brick-and-mortar casino operations, including Bally’s, The Cromwell and the LINQ Hotel & Casino in Las Vegas, Harrah’s New Orleans and Horseshoe Baltimore. Through its consolidated entities it owned and operated or handled in about 14 states of America over 49 casinos and over five nations.
