Eldorado Resorts’ (ERI) “Buy” Rating Reiterated at SunTrust Banks, Inc.
Eldorado Resorts, Inc. (NASDAQ:ERI)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a report issued on Tuesday. They currently have a $22.00 price objective on the stock. SunTrust Banks, Inc.’s price target suggests a potential downside of 11.65% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. BidaskClub downgraded Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised Eldorado Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Deutsche Bank AG began coverage on Eldorado Resorts in a research note on Monday, September 25th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, J P Morgan Chase & Co began coverage on Eldorado Resorts in a research note on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.00.
Eldorado Resorts (NASDAQ:ERI) traded down 1.39% during midday trading on Tuesday, hitting $24.90. 539,093 shares of the company traded hands. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $27.15. The stock has a 50 day moving average of $25.42 and a 200 day moving average of $21.80.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data 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 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 the consensus estimate of $354.15 million. Eldorado Resorts’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities analysts anticipate that Eldorado Resorts will post ($0.29) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. increased its position in Eldorado Resorts by 58,900.0% in 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 period. Oppenheimer Asset Management Inc. bought a new position in Eldorado Resorts in the 1st quarter worth approximately $140,000. BNP Paribas Arbitrage SA increased its position in Eldorado Resorts by 8,127.7% in 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 period. Victory Capital Management Inc. increased its position in Eldorado Resorts by 17.6% in 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 period. Finally, Public Employees Retirement Association of Colorado bought a new position in Eldorado Resorts in the 2nd quarter worth approximately $174,000. 69.71% of the stock is currently owned by institutional investors.
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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