Eldorado Resorts (ERI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Eldorado Resorts (NASDAQ:ERI) from a strong-buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “

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Several other research firms have also recently commented on ERI. BidaskClub cut shares of Eldorado Resorts from a strong-buy rating to a buy rating in a report on Tuesday, January 30th. SunTrust Banks restated an average rating and set a $36.00 price target on shares of Eldorado Resorts in a report on Monday, February 5th. Roth Capital started coverage on shares of Eldorado Resorts in a report on Tuesday, February 20th. They set a buy rating and a $41.00 price target on the stock. Jefferies Group started coverage on shares of Eldorado Resorts in a report on Thursday, January 18th. They set a buy rating and a $40.00 price target on the stock. Finally, Telsey Advisory Group started coverage on shares of Eldorado Resorts in a report on Tuesday, March 13th. They set an outperform rating and a $42.00 price target on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $35.00.

Eldorado Resorts (NASDAQ ERI) opened at $34.75 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.07 and a current ratio of 1.15. Eldorado Resorts has a fifty-two week low of $17.30 and a fifty-two week high of $38.45. The company has a market cap of $2,819.30, a price-to-earnings ratio of 40.41 and a beta of 0.98.

Large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Eldorado Resorts by 117.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after purchasing an additional 1,775 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Eldorado Resorts in the fourth quarter worth $206,000. Amalgamated Bank bought a new stake in Eldorado Resorts in the fourth quarter worth $211,000. Quantitative Systematic Strategies LLC bought a new stake in Eldorado Resorts in the fourth quarter worth $223,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Eldorado Resorts in the fourth quarter worth $239,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

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About Eldorado Resorts

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.

Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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