BlackRock Inc. Decreases Stake in Eldorado Resorts Inc (NASDAQ:ERI)

BlackRock Inc. lowered its position in shares of Eldorado Resorts Inc (NASDAQ:ERI) by 1.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,364,261 shares of the company’s stock after selling 83,021 shares during the quarter. BlackRock Inc. owned about 9.51% of Eldorado Resorts worth $343,837,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Sapphire Star Partners LP boosted its holdings in Eldorado Resorts by 2.7% in the 4th quarter. Sapphire Star Partners LP now owns 12,597 shares of the company’s stock worth $456,000 after acquiring an additional 335 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Eldorado Resorts by 7.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,541 shares of the company’s stock worth $201,000 after acquiring an additional 365 shares during the period. Retirement Systems of Alabama boosted its holdings in Eldorado Resorts by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 84,672 shares of the company’s stock worth $3,953,000 after acquiring an additional 414 shares during the period. Arizona State Retirement System boosted its holdings in Eldorado Resorts by 1.2% in the 4th quarter. Arizona State Retirement System now owns 46,659 shares of the company’s stock worth $1,690,000 after acquiring an additional 531 shares during the period. Finally, Mason Street Advisors LLC boosted its holdings in Eldorado Resorts by 1.6% in the 1st quarter. Mason Street Advisors LLC now owns 34,589 shares of the company’s stock worth $1,615,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

ERI stock opened at $51.58 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 3.78. The company has a market cap of $4.04 billion, a P/E ratio of 37.38, a PEG ratio of 1.12 and a beta of 1.65. Eldorado Resorts Inc has a 12-month low of $31.86 and a 12-month high of $53.21.

Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 2nd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.10. Eldorado Resorts had a return on equity of 11.41% and a net margin of 5.00%. The firm had revenue of $627.75 million for the quarter, compared to analyst estimates of $660.92 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts expect that Eldorado Resorts Inc will post 2.32 earnings per share for the current year.

Several equities analysts have recently commented on ERI shares. Zacks Investment Research upgraded Eldorado Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Jefferies Financial Group set a $58.00 target price on Eldorado Resorts and gave the company a “buy” rating in a research note on Thursday, February 28th. Nomura increased their target price on Eldorado Resorts from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Stifel Nicolaus began coverage on Eldorado Resorts in a research note on Wednesday, June 5th. They set a “buy” rating and a $62.00 target price for the company. Finally, Roth Capital reissued a “buy” rating on shares of Eldorado Resorts in a research report on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.71.

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Eldorado Resorts Company Profile

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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Institutional Ownership by Quarter for Eldorado Resorts (NASDAQ:ERI)

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