Eldorado Resorts, Inc. (ERI) Raised to Buy at Zacks Investment Research
Eldorado Resorts, Inc. (NASDAQ:ERI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $32.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.34% from the company’s previous close.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
Several other research firms have also commented on ERI. SunTrust Banks, Inc. restated a “buy” rating and issued a $29.00 price objective on shares of Eldorado Resorts in a research report on Friday. BidaskClub lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Deutsche Bank AG began coverage on Eldorado Resorts in a research report 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 report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $28.60.
Shares of Eldorado Resorts (NASDAQ ERI) traded up $0.40 during midday trading on Tuesday, reaching $29.00. The company had a trading volume of 1,130,068 shares, compared to its average volume of 921,862. Eldorado Resorts has a 52-week low of $10.65 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.37 and a current ratio of 1.44.
Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Eldorado Resorts had a negative return on equity of 3.40% and a negative net margin of 1.20%. The firm had revenue of $444.87 million for the quarter, compared to analyst estimates of $448.30 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Eldorado Resorts’s revenue for the quarter was down 1.0% on a year-over-year basis. sell-side analysts predict that Eldorado Resorts will post -0.29 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Eldorado Resorts, Inc. (ERI) Raised to Buy at Zacks Investment Research” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/11/07/eldorado-resorts-inc-eri-raised-to-buy-at-zacks-investment-research.html.
Hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Eldorado Resorts by 121.0% during the 2nd quarter. Sei Investments Co. now owns 67,446 shares of the company’s stock worth $1,349,000 after buying an additional 36,928 shares during the period. Shell Asset Management Co. acquired a new position in shares of Eldorado Resorts during the 2nd quarter worth approximately $700,000. Federated Investors Inc. PA raised its stake in shares of Eldorado Resorts by 143.0% during the 2nd quarter. Federated Investors Inc. PA now owns 211,315 shares of the company’s stock worth $4,227,000 after buying an additional 124,365 shares during the period. Peregrine Capital Management LLC raised its stake in shares of Eldorado Resorts by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 688,971 shares of the company’s stock worth $13,779,000 after buying an additional 13,769 shares during the period. Finally, FMR LLC raised its stake in shares of Eldorado Resorts by 258.4% during the 1st quarter. FMR LLC now owns 1,937,100 shares of the company’s stock worth $36,660,000 after buying an additional 1,396,588 shares during the period. 72.13% of the stock is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eldorado Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.