Equities analysts predict that Eldorado Resorts, Inc. (NASDAQ:ERI) will report $460.15 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Eldorado Resorts’ earnings. The highest sales estimate is $468.90 million and the lowest is $455.40 million. Eldorado Resorts posted sales of $241.57 million during the same quarter last year, which suggests a positive year-over-year growth rate of 90.5%. The business is expected to announce its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Eldorado Resorts will report full year sales of $460.15 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.74 billion. For the next year, analysts expect that the company will post sales of $1.77 billion per share, with estimates ranging from $1.73 billion to $1.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last announced its earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.95. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The company had revenue of $355.20 million during the quarter, compared to the consensus estimate of $354.15 million. The firm’s revenue was up 53.6% compared to the same quarter last year.

A number of research firms have recently commented on ERI. BidaskClub raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, August 15th. Zacks Investment Research cut shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 11th. J P Morgan Chase & Co began coverage on shares of Eldorado Resorts in a report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 target price for the company. TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. Finally, Imperial Capital increased their target price on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.00.

Eldorado Resorts (ERI) opened at 23.80 on Friday. The firm has a 50 day moving average of $21.94 and a 200-day moving average of $19.99. Eldorado Resorts has a 52 week low of $10.65 and a 52 week high of $24.15.

In other news, insider Thomas Reeg purchased 2,500 shares of the stock in a transaction on Friday, June 16th. The stock was purchased at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the acquisition, the insider now owns 46,200 shares in the company, valued at $925,386. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $6,888,000. Dynamic Technology Lab Private Ltd acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $210,000. 1st Global Advisors Inc. acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $775,000. Verition Fund Management LLC acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $296,000. Finally, Sterling Capital Management LLC acquired a new stake in Eldorado Resorts in the 2nd quarter valued at $302,000. 69.44% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This story was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/09/08/zacks-analysts-anticipate-eldorado-resorts-inc-eri-will-announce-quarterly-sales-of-460-15-million.html.

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.

Get a free copy of the Zacks research report on Eldorado Resorts (ERI)

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.