Eldorado Resorts, Inc. (ERI) Upgraded to B- at TheStreet
Eldorado Resorts, Inc. (NASDAQ:ERI) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a research note issued to investors on Wednesday.
A number of other analysts have also weighed in on the stock. BidaskClub raised shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $22.00 price target on shares of Eldorado Resorts in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Deutsche Bank AG began coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They issued a “buy” rating and a $32.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Eldorado Resorts currently has an average rating of “Buy” and a consensus target price of $26.00.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $444.87 million for the quarter, compared to analyst estimates of $448.30 million. Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. Eldorado Resorts’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS.
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Several large investors have recently modified their holdings of ERI. Renaissance Technologies LLC increased its holdings in shares of Eldorado Resorts by 204.2% in 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 last quarter. FMR LLC increased its holdings 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 worth $67,785,000 after buying an additional 1,452,155 shares during the last quarter. Principal Financial Group Inc. increased its holdings 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 worth $23,294,000 after buying an additional 1,154,190 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eldorado Resorts in the 3rd quarter worth $26,211,000. Finally, Peregrine Capital Management LLC increased its holdings in shares of Eldorado Resorts by 130.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,584,460 shares of the company’s stock worth $40,641,000 after buying an additional 895,489 shares during the last quarter. 71.05% of the stock is currently owned by hedge funds and other institutional investors.
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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