What Next for Caesars Entertainment Corporation (CZR) After Forming Bearish Ascending Triangle Pattern?

December 8, 2017 - By Vivian Park

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.
State Board Of Administration Of Florida Retirement holds 0% or 44,115 shares. 89,300 are held by Swiss Bank & Trust. Us Fincl Bank De holds 0% in Caesars Entertainment Corporation (NASDAQ:CZR) or 2,669 shares. 38,533 were accumulated by Metropolitan Life Insur Company Ny. Jpmorgan Chase And accumulated 357,247 shares. Bridgeway Mngmt has invested 0.03% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). Pnc Fincl Svcs Grp Inc owns 100 shares. Hsbc Hldgs Public Ltd Company invested in 0% or 66,100 shares. Goldman Sachs Group Inc has invested 0.01% in Caesars Entertainment Corporation (NASDAQ:CZR). Aqr Capital Management Ltd accumulated 260,823 shares or 0% of the stock. Barclays Public Limited Liability accumulated 1.42 million shares. Airain Ltd holds 0.01% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR) for 13,384 shares. Parametric Port Associate stated it has 0% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). C M Bidwell Associate reported 0.07% stake. New York-based Hutchin Hill Capital Limited Partnership has invested 0.06% in Caesars Entertainment Corporation (NASDAQ:CZR).

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 earnings per share, 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 earnings per share 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 stock of Caesars Entertainment Corporation (NASDAQ:CZR) has “Underweight” rating given on Monday, December 14 by Barclays Capital. The rating was maintained by Oppenheimer with “Buy” on Tuesday, June 6. The firm earned “Buy” rating on Tuesday, October 24 by SunTrust. On Friday, October 6 the stock rating was initiated by Nomura with “Hold”. The firm has “Buy” rating by Oppenheimer given on Wednesday, May 31.

More notable recent Caesars Entertainment Corporation (NASDAQ:CZR) news were published by: Prnewswire.com which released: “Caesars Entertainment Corporation to Participate in the Barclays Gaming …” on December 06, 2017, also Prnewswire.com with their article: “Caesars Entertainment Announces Harrah’s Las Vegas Sale and Leaseback …” published on November 29, 2017, Wsj.com published: “Caesars Entertainment to Buy Indiana Casinos in $1.7 Billion Deal” on November 16, 2017. More interesting news about Caesars Entertainment Corporation (NASDAQ:CZR) were released by: Prnewswire.com and their article: “Caesars Entertainment Announces Extension of the Early Payment Deadline and …” published on November 17, 2017 as well as Prnewswire.com‘s news article titled: “Caesars Entertainment Corporation to Participate in the Bank of America …” with publication date: November 29, 2017.

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