Analysts Expect Eldorado Resorts, Inc. (ERI) Will Announce Quarterly Sales of $410.35 Million
Brokerages expect Eldorado Resorts, Inc. (NASDAQ:ERI) to report sales of $410.35 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eldorado Resorts’ earnings, with estimates ranging from $371.90 million to $448.80 million. Eldorado Resorts posted sales of $231.32 million during the same quarter last year, which would indicate a positive year over year growth rate of 77.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Eldorado Resorts will report full year sales of $410.35 million for the current year, with estimates ranging from $1.42 billion to $1.74 billion. For the next year, analysts expect that the business will report sales of $1.78 billion per share, with estimates ranging from $1.76 billion to $1.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $209.75 million. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share.
A number of brokerages have commented on ERI. Imperial Capital boosted their target price on Eldorado Resorts from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research note on Monday, March 13th.
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Eldorado Resorts (ERI) opened at 20.65 on Thursday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 44.03 and a beta of 1.00. The stock has a 50 day moving average price of $20.43 and a 200-day moving average price of $17.85. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $21.83.
In other Eldorado Resorts news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.51, for a total value of $427,920.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.14% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ERI. AQR Capital Management LLC increased its stake in Eldorado Resorts by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 328,935 shares of the company’s stock valued at $5,575,000 after buying an additional 8,646 shares during the period. Ancora Advisors LLC bought a new stake in Eldorado Resorts during the fourth quarter valued at about $4,816,000. Tudor Investment Corp Et Al bought a new stake in Eldorado Resorts during the fourth quarter valued at about $364,000. Lafitte Capital Management LP increased its stake in Eldorado Resorts by 2.1% in the fourth quarter. Lafitte Capital Management LP now owns 1,941,825 shares of the company’s stock valued at $32,914,000 after buying an additional 40,000 shares during the period. Finally, Two Sigma Investments LP increased its stake in Eldorado Resorts by 20.2% in the fourth quarter. Two Sigma Investments LP now owns 382,400 shares of the company’s stock valued at $6,482,000 after buying an additional 64,238 shares during the period. Institutional investors own 65.18% of the company’s stock.
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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