Other equities analysts have also recently issued reports about the stock. Wolfe Research upgraded shares of Eldorado Resorts from a peer perform rating to an outperform rating and set a $46.12 target price for the company in a research note on Tuesday, June 25th. Susquehanna Bancshares assumed coverage on shares of Eldorado Resorts in a research note on Wednesday, July 24th. They set a neutral rating and a $50.00 target price for the company. Stifel Nicolaus set a $58.00 target price on shares of Eldorado Resorts and gave the company a buy rating in a research note on Wednesday, August 7th. Deutsche Bank reiterated a buy rating and set a $66.00 target price on shares of Eldorado Resorts in a research note on Sunday, September 1st. Finally, ValuEngine upgraded shares of Eldorado Resorts from a hold rating to a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $53.90.
Shares of NASDAQ ERI traded up $0.34 during trading hours on Thursday, hitting $43.25. 1,165,353 shares of the stock were exchanged, compared to its average volume of 1,239,040. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.83 and a quick ratio of 1.78. The company’s 50 day moving average is $40.77 and its 200 day moving average is $46.46. The firm has a market capitalization of $3.17 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.17 and a beta of 1.51. Eldorado Resorts has a one year low of $31.86 and a one year high of $54.99.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.25). The firm had revenue of $637.10 million for the quarter, compared to the consensus estimate of $658.74 million. Eldorado Resorts had a return on equity of 9.47% and a net margin of 3.90%. Eldorado Resorts’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts anticipate that Eldorado Resorts will post 1.74 earnings per share for the current fiscal year.
In related news, Director James B. Hawkins acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $35.70 per share, with a total value of $71,400.00. Following the acquisition, the director now directly owns 125,137 shares in the company, valued at $4,467,390.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James B. Hawkins acquired 6,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $40.35 per share, for a total transaction of $242,100.00. Following the acquisition, the director now owns 119,137 shares in the company, valued at $4,807,177.95. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Eldorado Resorts by 24.3% in the 2nd quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after purchasing an additional 1,789,647 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Eldorado Resorts by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,552,414 shares of the company’s stock valued at $255,800,000 after purchasing an additional 41,669 shares during the last quarter. HG Vora Capital Management LLC bought a new position in shares of Eldorado Resorts in the 2nd quarter valued at about $207,315,000. Frontier Capital Management Co. LLC boosted its stake in shares of Eldorado Resorts by 1.4% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,717,064 shares of the company’s stock valued at $172,893,000 after purchasing an additional 49,705 shares during the last quarter. Finally, Park West Asset Management LLC boosted its stake in shares of Eldorado Resorts by 24.9% in the 2nd quarter. Park West Asset Management LLC now owns 3,154,116 shares of the company’s stock valued at $145,310,000 after purchasing an additional 629,116 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors.
About Eldorado Resorts
Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.
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