BidaskClub Lowers Eldorado Resorts, Inc. (ERI) to Hold
Eldorado Resorts, Inc. (NASDAQ:ERI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Sunday.
Several other brokerages have also weighed in on ERI. Zacks Investment Research upgraded shares of 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 price objective (up from $24.00) on shares of Eldorado Resorts in a report on Friday, May 5th. Finally, TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Eldorado Resorts has an average rating of “Buy” and a consensus target price of $21.50.
Shares of Eldorado Resorts (ERI) traded up 0.52% during midday trading on Friday, hitting $19.30. 328,576 shares of the company’s stock were exchanged. Eldorado Resorts has a one year low of $10.65 and a one year high of $21.83. The stock’s 50-day moving average price is $20.62 and its 200 day moving average price is $18.23. The firm has a market cap of $1.46 billion, a PE ratio of 41.15 and a beta of 1.01.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.16. The company had revenue of $200.90 million for 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 company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Equities research analysts forecast that Eldorado Resorts will post $0.67 EPS for the current year.
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In other Eldorado Resorts news, insider Thomas Reeg purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the acquisition, the insider now owns 46,200 shares of the company’s stock, valued at approximately $925,386. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.51, for a total transaction of $427,920.64. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised 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 last quarter. Westfield Capital Management Co. LP raised 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 last quarter. Vanguard Group Inc. raised 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 last quarter. RWC Asset Management LLP raised 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 last quarter. Finally, Bank of New York Mellon Corp raised 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 last quarter. Hedge funds and other institutional investors own 65.18% of the company’s stock.
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.
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