Eldorado Resorts (NASDAQ:ERI) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.
Other analysts have also issued research reports about the stock. SunTrust Banks reaffirmed a “buy” rating and set a $22.00 price objective on shares of Eldorado Resorts in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 11th. TheStreet raised shares of Eldorado Resorts from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Deutsche Bank initiated coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They set a “buy” rating and a $32.00 price objective for the company. Finally, J P Morgan Chase & Co raised their price objective on shares of Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus target price of $30.00.
Eldorado Resorts (NASDAQ ERI) opened at $31.25 on Thursday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.78 and a quick ratio of 1.71. Eldorado Resorts has a one year low of $14.90 and a one year high of $31.50.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $444.87 million during the quarter, compared to analysts’ expectations of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. analysts expect that Eldorado Resorts will post -0.08 earnings per share for the current fiscal year.
In related news, Director David P. Tomick purchased 1,700 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $28.70 per share, with a total value of $48,790.00. Following the completion of the acquisition, the director now directly owns 10,400 shares in the company, valued at approximately $298,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bonnie Biumi sold 13,079 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in Eldorado Resorts by 58,900.0% during the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after acquiring an additional 5,890 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after acquiring an additional 7,640 shares during the period. Victory Capital Management Inc. grew its holdings in Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after acquiring an additional 1,209 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Eldorado Resorts during the 2nd quarter worth $174,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Eldorado Resorts during the 2nd quarter worth $210,000. 81.23% of the stock is owned by institutional investors and hedge funds.
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Eldorado Resorts Company Profile
Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.
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