Oppenheimer Analysts Reduce Earnings Estimates for Caesars Entertainment Corp (CZR)
Caesars Entertainment Corp (NASDAQ:CZR) – Analysts at Oppenheimer lowered their Q4 2017 earnings per share (EPS) estimates for Caesars Entertainment in a research report issued to clients and investors on Thursday. Oppenheimer analyst I. Zaffino now forecasts that the company will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.10. Oppenheimer has a “Buy” rating and a $15.00 price objective on the stock.
CZR has been the subject of a number of other reports. BidaskClub downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. SunTrust Banks reiterated an “average” rating and set a $16.00 price objective on shares of Caesars Entertainment in a research note on Monday, February 5th. Zacks Investment Research upgraded Caesars Entertainment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 30th. ValuEngine downgraded Caesars Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Jefferies Group began coverage on Caesars Entertainment in a research note on Thursday, January 18th. They set a “hold” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.55.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Caesars Entertainment by 660.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,608 shares of the company’s stock worth $122,000 after acquiring an additional 8,344 shares in the last quarter. Loeb Partners Corp purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $126,000. Cerebellum GP LLC purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $127,000. BB&T Corp purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $131,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Caesars Entertainment during the 4th quarter worth approximately $135,000. 21.06% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Janis L. Jones sold 26,131 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $12.86, for a total transaction of $336,044.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John M. Boushy acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were purchased at an average cost of $12.64 per share, for a total transaction of $252,800.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $252,800. The disclosure for this purchase can be found here. Corporate insiders own 4.60% of the company’s stock.
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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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