Oppenheimer Analysts Reduce Earnings Estimates for Caesars Entertainment Corp (CZR)

Caesars Entertainment Corp (NASDAQ:CZR) – Stock analysts at Oppenheimer decreased their Q4 2017 EPS estimates for Caesars Entertainment in a research report issued to clients and investors on Thursday. Oppenheimer analyst I. Zaffino now expects that the company will earn $0.09 per share for the quarter, down from their previous forecast of $0.10. Oppenheimer currently has a “Buy” rating and a $15.00 target price on the stock.

Several other equities research analysts have also recently issued reports on CZR. BidaskClub upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research cut Caesars Entertainment from a “hold” rating to a “sell” rating in a report on Monday, December 4th. Jefferies Group started coverage on Caesars Entertainment in a report on Thursday, January 18th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, SunTrust Banks restated an “average” rating and set a $16.00 price objective on shares of Caesars Entertainment in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Caesars Entertainment currently has an average rating of “Hold” and a consensus target price of $14.55.

Shares of Caesars Entertainment (CZR) opened at $12.35 on Monday. Caesars Entertainment has a fifty-two week low of $8.50 and a fifty-two week high of $14.50. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of -1.69. The company has a market capitalization of $8,696.02, a price-to-earnings ratio of -0.61 and a beta of 0.26.

In other news, Director John M. Boushy bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were acquired at an average cost of $12.64 per share, with a total value of $252,800.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $252,800. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Janis L. Jones sold 26,131 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $12.86, for a total value of $336,044.66. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Davidson Kempner Capital Management LP purchased a new position in shares of Caesars Entertainment in the 2nd quarter worth $5,378,000. DSAM Partners London Ltd raised its position in Caesars Entertainment by 56.8% in the third quarter. DSAM Partners London Ltd now owns 1,317,879 shares of the company’s stock valued at $17,594,000 after purchasing an additional 477,646 shares during the period. Vanguard Group Inc. raised its position in Caesars Entertainment by 7.6% in the second quarter. Vanguard Group Inc. now owns 4,910,696 shares of the company’s stock valued at $58,929,000 after purchasing an additional 346,270 shares during the period. 1060 Capital LLC purchased a new position in Caesars Entertainment in the third quarter valued at about $12,015,000. Finally, Northern Trust Corp raised its position in Caesars Entertainment by 4.3% in the second quarter. Northern Trust Corp now owns 629,548 shares of the company’s stock valued at $7,555,000 after purchasing an additional 25,709 shares during the period. 21.06% of the stock is currently owned by institutional investors and hedge funds.

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Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a holding company. The Company provides casino-entertainment and hospitality services. The Company’s segments include Caesars Entertainment Resort Properties, LLC (CERP), Caesars Growth Partners, LLC (CGP) and Other. The Company’s resorts operate primarily under the Harrah’s, Caesars and Horseshoe brand names.

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