Eldorado Resorts, Inc. (ERI) Receives Consensus Recommendation of “Hold” from Analysts
Eldorado Resorts, Inc. (NASDAQ:ERI) has earned a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.33.
Several equities research analysts have recently issued reports on the stock. Imperial Capital lifted their price objective on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Zacks Investment Research cut shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. J P Morgan Chase & Co assumed coverage on shares of Eldorado Resorts in a research report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th.
Eldorado Resorts (NASDAQ ERI) opened at 23.40 on Monday. Eldorado Resorts has a 12 month low of $10.65 and a 12 month high of $23.40. The stock’s 50 day moving average price is $20.22 and its 200-day moving average price is $19.04.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.95. The firm had revenue of $355.20 million for the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts had a negative return on equity of 11.56% and a negative net margin of 3.38%. The firm’s quarterly revenue was up 53.6% on a year-over-year basis. Equities research analysts predict that Eldorado Resorts will post $0.20 EPS for the current fiscal year.
In related news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of Eldorado Resorts stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.51, for a total transaction of $427,920.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Reeg purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the purchase, the insider now directly owns 46,200 shares in the company, valued at $925,386. The disclosure for this purchase can be found here. 1.18% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Eldorado Resorts by 204.2% in the second quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock valued at $48,390,000 after buying an additional 1,624,021 shares in the last quarter. FMR LLC raised its stake in shares of Eldorado Resorts by 75.0% in the second quarter. FMR LLC now owns 3,389,255 shares of the company’s stock valued at $67,785,000 after buying an additional 1,452,155 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Eldorado Resorts by 11,003.8% in the second quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock valued at $23,294,000 after buying an additional 1,154,190 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eldorado Resorts by 78.3% in the second quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock valued at $39,146,000 after buying an additional 859,537 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Eldorado Resorts by 41.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock valued at $42,956,000 after buying an additional 625,911 shares in the last quarter. Hedge funds and other institutional investors own 65.18% 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.
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