Wall Street brokerages expect Eldorado Resorts Inc (NASDAQ:ERI) to announce sales of $680.56 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Eldorado Resorts’ earnings. The highest sales estimate is $686.50 million and the lowest is $674.08 million. Eldorado Resorts posted sales of $428.22 million during the same quarter last year, which suggests a positive year over year growth rate of 58.9%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 28th.
On average, analysts expect that Eldorado Resorts will report full-year sales of $2.07 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $2.74 billion, with estimates ranging from $2.68 billion to $2.78 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. The firm had revenue of $487.25 million for the quarter, compared to analysts’ expectations of $494.60 million. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, August 25th. Jefferies Financial Group set a $57.00 price objective on Eldorado Resorts and gave the company a “buy” rating in a research note on Friday, October 5th. JPMorgan Chase & Co. set a $60.00 price objective on Eldorado Resorts and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Eldorado Resorts has a consensus rating of “Buy” and an average price target of $51.56.
In other news, COO Anthony L. Carano acquired 1,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were acquired at an average cost of $45.60 per share, with a total value of $45,600.00. Following the transaction, the chief operating officer now owns 26,979 shares in the company, valued at approximately $1,230,242.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Eldorado Resorts by 4.8% during the second quarter. FMR LLC now owns 10,419,822 shares of the company’s stock valued at $407,415,000 after purchasing an additional 475,601 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Eldorado Resorts by 70.8% during the third quarter. BlackRock Inc. now owns 7,239,083 shares of the company’s stock valued at $351,819,000 after purchasing an additional 3,001,643 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Eldorado Resorts by 308.9% during the third quarter. Frontier Capital Management Co. LLC now owns 2,569,788 shares of the company’s stock valued at $124,509,000 after purchasing an additional 1,941,282 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Eldorado Resorts by 39.2% during the second quarter. Millennium Management LLC now owns 1,825,582 shares of the company’s stock valued at $71,380,000 after purchasing an additional 513,742 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Eldorado Resorts by 17.6% during the third quarter. Wells Fargo & Company MN now owns 1,528,144 shares of the company’s stock valued at $74,268,000 after purchasing an additional 228,429 shares during the last quarter. 88.48% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ERI opened at $36.72 on Friday. Eldorado Resorts has a twelve month low of $28.15 and a twelve month high of $50.64. The company has a current ratio of 2.32, a quick ratio of 2.25 and a debt-to-equity ratio of 2.20. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 3,672.00, a PEG ratio of 1.16 and a beta of 1.47.
About Eldorado Resorts
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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