Eldorado Resorts (NASDAQ:ERI) released its quarterly earnings results on Thursday. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10), Morningstar.com reports. The firm had revenue of $487.25 million for the quarter, compared to the consensus estimate of $494.60 million. Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.
ERI stock traded down $2.17 during trading on Friday, hitting $36.72. The company had a trading volume of 3,545,107 shares, compared to its average volume of 1,510,442. The company has a market capitalization of $2.92 billion, a P/E ratio of 3,672.00, a PEG ratio of 1.17 and a beta of 1.47. Eldorado Resorts has a fifty-two week low of $28.15 and a fifty-two week high of $50.64. The company has a quick ratio of 2.25, a current ratio of 2.32 and a debt-to-equity ratio of 2.20.
In other Eldorado Resorts news, COO Anthony L. Carano purchased 1,000 shares of the business’s stock in a transaction on Friday, September 7th. The stock was bought at an average cost of $45.60 per share, with a total value of $45,600.00. Following the acquisition, the chief operating officer now owns 26,979 shares of the company’s stock, valued at $1,230,242.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ERI. Bank of Montreal Can lifted its holdings in Eldorado Resorts by 282.7% in the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after acquiring an additional 2,468 shares during the last quarter. Strs Ohio acquired a new stake in Eldorado Resorts during the 2nd quarter worth about $156,000. FNY Investment Advisers LLC acquired a new stake in Eldorado Resorts during the 2nd quarter worth about $185,000. Oppenheimer Asset Management Inc. acquired a new stake in Eldorado Resorts during the 3rd quarter worth about $252,000. Finally, First Mercantile Trust Co. acquired a new stake in Eldorado Resorts during the 3rd quarter worth about $298,000. 88.48% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Friday, July 27th. JPMorgan Chase & Co. set a $60.00 price objective on shares of Eldorado Resorts and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Jefferies Financial Group set a $57.00 price objective on shares of Eldorado Resorts and gave the stock a “buy” rating in a report on Friday, October 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $51.56.
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Eldorado Resorts Company Profile
Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.
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