Eldorado Resorts, Inc. (ERI) Raised to Strong-Buy at BidaskClub
Eldorado Resorts, Inc. (NASDAQ:ERI) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.
A number of other research firms have also issued reports on ERI. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research note on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $25.00.
Eldorado Resorts (NASDAQ ERI) traded up 0.81% during trading on Thursday, hitting $24.80. The stock had a trading volume of 2,062,514 shares. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $25.35. The stock’s 50 day moving average price is $22.63 and its 200 day moving average price is $20.33.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.95). Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The company had revenue of $355.20 million during the quarter, compared to analysts’ expectations of $354.15 million. The firm’s quarterly revenue was up 53.6% on a year-over-year basis. On average, equities research analysts forecast that Eldorado Resorts will post ($0.29) earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Eldorado Resorts by 58,900.0% during the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after buying an additional 5,890 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eldorado Resorts during the 1st quarter worth $140,000. BNP Paribas Arbitrage SA increased its holdings in shares of Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after buying an additional 7,640 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Eldorado Resorts during the 2nd quarter worth $174,000. Institutional investors and hedge funds own 69.44% 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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