Eldorado Resorts’ (ERI) “Buy” Rating Reaffirmed at SunTrust Banks, Inc.
Eldorado Resorts, Inc. (NASDAQ:ERI)‘s stock had its “buy” rating reissued by research analysts at SunTrust Banks, Inc. in a research report issued on Friday. They presently have a $29.00 price objective on the stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 3.57% from the company’s current price.
A number of other analysts have also issued reports on ERI. BidaskClub lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a research note on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price target for the company. Zacks Investment Research lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Deutsche Bank AG started coverage on shares of Eldorado Resorts in a research note on Monday, September 25th. They issued a “buy” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Eldorado Resorts currently has an average rating of “Buy” and an average target price of $27.75.
Eldorado Resorts (NASDAQ ERI) opened at $28.00 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.68.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 3.40%. The business had revenue of $444.87 million for the quarter, compared to analysts’ expectations of $448.30 million. During the same period in the previous year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. research analysts predict that Eldorado Resorts will post -0.29 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. increased its stake in Eldorado Resorts by 121.0% during the second quarter. Sei Investments Co. now owns 67,446 shares of the company’s stock valued at $1,349,000 after purchasing an additional 36,928 shares during the last quarter. Shell Asset Management Co. acquired a new position in shares of Eldorado Resorts during the second quarter valued at $700,000. Federated Investors Inc. PA boosted its holdings in shares of Eldorado Resorts by 143.0% during the second quarter. Federated Investors Inc. PA now owns 211,315 shares of the company’s stock valued at $4,227,000 after acquiring an additional 124,365 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Eldorado Resorts by 2.0% during the second quarter. Peregrine Capital Management LLC now owns 688,971 shares of the company’s stock valued at $13,779,000 after acquiring an additional 13,769 shares during the period. Finally, FMR LLC boosted its holdings in shares of Eldorado Resorts by 258.4% during the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock valued at $36,660,000 after acquiring an additional 1,396,588 shares during the period. Hedge funds and other institutional investors own 71.05% of the company’s stock.
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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