After Forming Ascending Triangle Chart Pattern, Is Caesars Entertainment Corporation (CZR)’s Near-Term Analysis Negative?

December 8, 2017 - By Darrin Black

Investors sentiment decreased to 1.8 in Q2 2017. Its down 0.29, from 2.09 in 2017Q1. It worsened, as 24 investors sold Caesars Entertainment Corporation shares while 25 reduced holdings. 40 funds opened positions while 48 raised stakes. 112.87 million shares or 13.86% more from 99.13 million shares in 2017Q1 were reported.
Athena Cap Ltd Limited Liability Company holds 0.23% or 75,736 shares in its portfolio. 635,650 are held by Monarch Partners Asset Mgmt Llc. The Minnesota-based Us Bancorporation De has invested 0% in Caesars Entertainment Corporation (NASDAQ:CZR). Schwab Charles Investment Mngmt accumulated 522,197 shares. Deutsche Bank & Trust Ag holds 0.01% in Caesars Entertainment Corporation (NASDAQ:CZR) or 818,308 shares. Wells Fargo & Co Mn reported 0% in Caesars Entertainment Corporation (NASDAQ:CZR). Davidson Kempner Cap Management Limited Partnership has invested 0.13% in Caesars Entertainment Corporation (NASDAQ:CZR). Dsam Prns (London) has invested 1.79% in Caesars Entertainment Corporation (NASDAQ:CZR). Weiss Multi holds 0.22% or 441,655 shares. Susquehanna International Gp Llp reported 14,400 shares. Caxton Associates L P stated it has 0.02% in Caesars Entertainment Corporation (NASDAQ:CZR). Senator Invest Group L P owns 2.50 million shares. Jpmorgan Chase & has 357,247 shares for 0% of their portfolio. Menta Cap Ltd Company owns 151,349 shares or 0.22% of their US portfolio. Renaissance Technologies Limited Liability Company invested in 65,100 shares.

The stock of Caesars Entertainment Corporation (CZR) formed an ascending triangle with $11.80 target or 6.00 % below today’s $12.55 share price. The 5 months triangle pattern indicates high risk for the $8.84 billion company. If the $11.80 price target is reached, the company will be worth $530.22M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.40% or $0.05 during the last trading session, reaching $12.55. About 7.88 million shares traded. Caesars Entertainment Corporation (NASDAQ:CZR) has risen 62.44% since December 8, 2016 and is uptrending. It has outperformed by 45.74% the S&P500.

Analysts await Caesars Entertainment Corporation (NASDAQ:CZR) to report earnings on February, 13. They expect $14.85 EPS, up 482.73 % or $18.73 from last year’s $-3.88 per share. CZR’s profit will be $10.46B for 0.21 P/E if the $14.85 EPS becomes a reality. After $-1.19 actual EPS reported by Caesars Entertainment Corporation for the previous quarter, Wall Street now forecasts -1,347.90 % EPS growth.

Caesars Entertainment Corporation (NASDAQ:CZR) Ratings Coverage

Among 5 analysts covering Caesars Entertainment (NASDAQ:CZR), 2 have Buy rating, 1 Sell and 2 Hold. Therefore 40% are positive. Caesars Entertainment had 7 analyst reports since December 14, 2015 according to SRatingsIntel. Nomura initiated Caesars Entertainment Corporation (NASDAQ:CZR) rating on Friday, October 6. Nomura has “Hold” rating and $14.0 target. The rating was initiated by Oppenheimer with “Buy” on Wednesday, May 31. On Tuesday, June 6 the stock rating was maintained by Oppenheimer with “Buy”. SunTrust maintained the stock with “Buy” rating in Tuesday, October 24 report. The stock of Caesars Entertainment Corporation (NASDAQ:CZR) has “Underweight” rating given on Monday, December 14 by Barclays Capital.

More notable recent Caesars Entertainment Corporation (NASDAQ:CZR) news were published by: Prnewswire.com which released: “Caesars Entertainment Announces Harrah’s Las Vegas Sale and Leaseback …” on November 29, 2017, also Prnewswire.com with their article: “Caesars Entertainment Corporation to Participate in the Barclays Gaming …” published on December 06, 2017, Prnewswire.com published: “Morning Technical Insight on These Resorts & Casinos Stocks — Melco Resorts …” on December 07, 2017. More interesting news about Caesars Entertainment Corporation (NASDAQ:CZR) were released by: Prnewswire.com and their article: “Caesars Entertainment Corporation to Participate in the Bank of America …” published on November 29, 2017 as well as Prnewswire.com‘s news article titled: “Caesars Entertainment Announces Extension of the Early Payment Deadline and …” with publication date: November 17, 2017.

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