Eldorado Resorts, Inc. (ERI) Expected to Announce Quarterly Sales of $410.35 Million
Wall Street analysts expect Eldorado Resorts, Inc. (NASDAQ:ERI) to post $410.35 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Eldorado Resorts’ earnings. The highest sales estimate is $448.80 million and the lowest is $371.90 million. Eldorado Resorts reported sales of $231.32 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 77.4%. The company is expected to issue its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Eldorado Resorts will report full year sales of $410.35 million for the current financial year, with estimates ranging from $1.42 billion to $1.74 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.78 billion per share, with estimates ranging from $1.76 billion to $1.80 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.16. The firm had revenue of $200.90 million during the quarter, compared to the consensus estimate of $209.75 million. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS.
ERI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Eldorado Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Imperial Capital reiterated an “outperform” rating and set a $26.00 target price (up previously from $24.00) on shares of Eldorado Resorts in a report on Friday, May 5th. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Finally, BidaskClub downgraded Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.50.
Eldorado Resorts (NASDAQ:ERI) opened at 19.40 on Friday. The firm has a 50-day moving average price of $20.62 and a 200 day moving average price of $18.23. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 41.36 and a beta of 1.01. Eldorado Resorts has a one year low of $10.65 and a one year high of $21.83.
In other news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the business’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Reeg purchased 2,500 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was bought at an average cost of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the transaction, the insider now owns 46,200 shares in the company, valued at $925,386. The disclosure for this purchase can be found here. Insiders own 1.18% of the company’s stock.
Several hedge funds have recently modified their holdings of ERI. FMR LLC boosted its position in Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock valued at $36,660,000 after buying an additional 1,396,588 shares during the period. Westfield Capital Management Co. LP boosted its position in Eldorado Resorts by 23.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,521,901 shares of the company’s stock valued at $28,802,000 after buying an additional 286,205 shares during the period. Vanguard Group Inc. boosted its position in Eldorado Resorts by 12.7% in the first quarter. Vanguard Group Inc. now owns 1,097,745 shares of the company’s stock valued at $20,774,000 after buying an additional 123,700 shares during the period. RWC Asset Management LLP boosted its position in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock valued at $15,573,000 after buying an additional 378,024 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Eldorado Resorts by 82.6% in the first quarter. Bank of New York Mellon Corp now owns 393,181 shares of the company’s stock valued at $7,441,000 after buying an additional 177,902 shares during the period. 65.18% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eldorado Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.