$408.12 Million in Sales Expected for Eldorado Resorts, Inc. (ERI) This Quarter
Wall Street brokerages expect Eldorado Resorts, Inc. (NASDAQ:ERI) to announce $408.12 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Eldorado Resorts’ earnings. The lowest sales estimate is $402.82 million and the highest is $412.05 million. Eldorado Resorts posted sales of $227.38 million in the same quarter last year, which suggests a positive year over year growth rate of 79.5%. The company is scheduled to report its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Eldorado Resorts will report full-year sales of $408.12 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.70 billion. For the next year, analysts forecast that the firm will report sales of $1.74 billion per share, with estimates ranging from $1.72 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $444.87 million for the quarter, compared to the consensus estimate of $448.30 million. Eldorado Resorts had a negative return on equity of 3.40% and a negative net margin of 1.20%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share.
A number of brokerages have issued reports on ERI. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $29.00 price target on shares of Eldorado Resorts in a research note on Friday. BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. TheStreet raised shares of Eldorado Resorts from a “c” rating to a “b-” rating in a report on Wednesday. Deutsche Bank AG initiated coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.75.
Hedge funds have recently modified their holdings of the company. Monarch Partners Asset Management LLC increased its stake in Eldorado Resorts by 25.3% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 640,385 shares of the company’s stock worth $16,426,000 after buying an additional 129,340 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Eldorado Resorts by 14.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 51,954 shares of the company’s stock valued at $1,333,000 after buying an additional 6,386 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Eldorado Resorts in the 3rd quarter valued at $231,000. Peregrine Capital Management LLC grew its position 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 valued at $40,641,000 after buying an additional 895,489 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eldorado Resorts in the 3rd quarter valued at $26,211,000. Hedge funds and other institutional investors own 71.05% of the company’s stock.
Shares of Eldorado Resorts (NASDAQ ERI) traded up $2.20 during trading hours on Friday, reaching $28.00. The company had a trading volume of 3,212,932 shares, compared to its average volume of 841,379. Eldorado Resorts has a 52 week low of $10.65 and a 52 week high of $30.00. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.68.
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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