Eldorado Resorts Inc (ERI) to Post FY2018 Earnings of $1.91 Per Share, SunTrust Banks Forecasts

Eldorado Resorts Inc (NASDAQ:ERI) – Equities research analysts at SunTrust Banks upped their FY2018 earnings per share estimates for Eldorado Resorts in a report issued on Monday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings of $1.91 per share for the year, up from their prior estimate of $1.62. SunTrust Banks has a “Average” rating and a $36.00 price objective on the stock.

A number of other analysts have also recently issued reports on ERI. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised Eldorado Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. TheStreet raised Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Jefferies Group assumed coverage on Eldorado Resorts in a research report on Thursday, January 18th. They set a “buy” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Eldorado Resorts from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $32.83.

Eldorado Resorts (NASDAQ:ERI) traded down $0.35 on Wednesday, reaching $34.15. The company had a trading volume of 64,071 shares, compared to its average volume of 649,920. Eldorado Resorts has a 52-week low of $15.10 and a 52-week high of $35.30. The company has a quick ratio of 1.71, a current ratio of 1.78 and a debt-to-equity ratio of 2.60.

In related news, Director David P. Tomick purchased 1,700 shares of Eldorado Resorts stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $28.70 per share, with a total value of $48,790.00. Following the completion of the transaction, the director now directly owns 10,400 shares of the company’s stock, valued at $298,480. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bonnie Biumi sold 13,079 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $29.50, for a total value of $385,830.50. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Capital Management LLC acquired a new position in shares of Eldorado Resorts during the 3rd quarter worth about $13,014,000. Comerica Bank acquired a new position in shares of Eldorado Resorts during the 3rd quarter worth about $852,000. Nationwide Fund Advisors lifted its position in shares of Eldorado Resorts by 60.7% during the 3rd quarter. Nationwide Fund Advisors now owns 123,310 shares of the company’s stock worth $3,163,000 after purchasing an additional 46,554 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Eldorado Resorts during the 3rd quarter worth about $2,190,000. Finally, Wells Fargo & Company MN lifted its position in shares of Eldorado Resorts by 15.0% during the 3rd quarter. Wells Fargo & Company MN now owns 98,747 shares of the company’s stock worth $2,532,000 after purchasing an additional 12,877 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

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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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