Eldorado Resorts, Inc. (ERI) Downgraded by BidaskClub 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 note issued on Wednesday.
Several other analysts also recently commented on the company. J P Morgan Chase & Co initiated coverage on Eldorado Resorts in a research note on Thursday, July 20th. They set an “overweight” rating and a $24.00 price objective on the stock. Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Deutsche Bank AG initiated coverage on Eldorado Resorts in a research note on Monday, September 25th. They set a “buy” rating and a $32.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.33.
Shares of Eldorado Resorts (NASDAQ:ERI) opened at 26.10 on Wednesday. Eldorado Resorts has a 12 month low of $10.65 and a 12 month high of $27.15. The stock’s 50 day moving average price is $24.64 and its 200-day moving average price is $21.29.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.95). The business had revenue of $355.20 million for the quarter, compared to analyst estimates of $354.15 million. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The firm’s revenue was up 53.6% on a year-over-year basis. Equities research analysts predict that Eldorado Resorts will post ($0.29) EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of ERI. Renaissance Technologies LLC raised its stake in Eldorado Resorts by 204.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock worth $48,390,000 after buying an additional 1,624,021 shares during the period. FMR LLC raised its stake in shares of Eldorado Resorts by 75.0% in the 2nd quarter. FMR LLC now owns 3,389,255 shares of the company’s stock valued at $67,785,000 after purchasing an additional 1,452,155 shares during the period. Principal Financial Group Inc. raised its stake in shares of Eldorado Resorts by 11,003.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock valued at $23,294,000 after purchasing an additional 1,154,190 shares during the period. Vanguard Group Inc. raised its stake in shares of Eldorado Resorts by 78.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock valued at $39,146,000 after purchasing an additional 859,537 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of Eldorado Resorts by 41.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock valued at $42,956,000 after purchasing an additional 625,911 shares during the period. 69.44% of the stock is currently owned by institutional investors and hedge funds.
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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