Eldorado Resorts, Inc. (ERI) Raised to Hold at Zacks Investment Research
Eldorado Resorts, Inc. (NASDAQ:ERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co assumed coverage on shares of Eldorado Resorts in a report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Deutsche Bank AG assumed coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They set a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.33.
Shares of Eldorado Resorts (ERI) remained flat at $26.10 during mid-day trading on Tuesday. The stock had a trading volume of 1,411,830 shares. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $27.15. The firm has a 50 day moving average price of $24.54 and a 200 day moving average price of $21.23.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $355.20 million for the quarter, compared to the consensus estimate of $354.15 million. The business’s revenue for the quarter was up 53.6% compared to the same quarter last year. On average, equities analysts forecast that Eldorado Resorts will post ($0.29) EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Eldorado Resorts, Inc. (ERI) Raised to Hold at Zacks Investment Research” was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/10/eldorado-resorts-inc-eri-raised-to-hold-at-zacks-investment-research.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERI. Renaissance Technologies LLC lifted 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 during the period. FMR LLC lifted 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 during the period. Principal Financial Group Inc. lifted 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 during the period. Vanguard Group Inc. lifted 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 during the period. Finally, Westfield Capital Management Co. LP lifted 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 during the period. 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.
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.