What’s Propelling Caesars Entertainment Corporation (CZR) to Decrease? The Stock Formed a Ascending Triangle

December 8, 2017 - By Kurt Siggers

Investors sentiment decreased to 1.8 in Q2 2017. Its down 0.29, from 2.09 in 2017Q1. It is negative, 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.
New York State Common Retirement Fund accumulated 62,800 shares. Fmr Limited Liability has 0% invested in Caesars Entertainment Corporation (NASDAQ:CZR). Highland Cap Mngmt Lp holds 0.01% or 25,000 shares in its portfolio. Maplelane Cap Ltd Liability Corp holds 0% or 1.43 million shares. Jabre Capital Prtnrs Sa reported 200,000 shares. D E Shaw And has invested 0% in Caesars Entertainment Corporation (NASDAQ:CZR). Mason Capital Management Limited Liability has 1.06 million shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management stated it has 88,200 shares. Price T Rowe Associate Md holds 0% in Caesars Entertainment Corporation (NASDAQ:CZR) or 62,857 shares. Senator Inv L P reported 0.34% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). Voya Management Limited Liability Company has invested 0% in Caesars Entertainment Corporation (NASDAQ:CZR). Qs Investors Limited Co holds 254,726 shares or 0.03% of its portfolio. Parametric Associates Ltd Llc holds 0% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR) for 309,392 shares. C M Bidwell Assocs Limited has 0.07% invested in Caesars Entertainment Corporation (NASDAQ:CZR) for 27,420 shares. California State Teachers Retirement Sys reported 100,922 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 $10.46 billion 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. The rating was maintained by Barclays Capital on Monday, December 14 with “Underweight”. As per Friday, October 6, the company rating was initiated by Nomura. The firm earned “Buy” rating on Wednesday, May 31 by Oppenheimer. On Tuesday, June 6 the stock rating was maintained by Oppenheimer with “Buy”. The rating was maintained by SunTrust on Tuesday, October 24 with “Buy”.

More notable recent Caesars Entertainment Corporation (NASDAQ:CZR) news were published by: Reviewjournal.com which released: “California man sues over Legionnaire’s case blamed on Rio stay” on December 05, 2017, also Prnewswire.com with their article: “Morning Technical Insight on These Resorts & Casinos Stocks — Melco Resorts …” published on December 07, 2017, Prnewswire.com published: “Caesars Entertainment Announces Extension of the Early Payment Deadline and …” on November 17, 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 Wsj.com‘s news article titled: “Caesars Entertainment to Buy Indiana Casinos in $1.7 Billion Deal” with publication date: November 16, 2017.

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