Brokers Set Expectations for Eldorado Resorts Inc’s FY2019 Earnings (NASDAQ:ERI)

Eldorado Resorts Inc (NASDAQ:ERI) – Jefferies Financial Group lowered their FY2019 earnings per share estimates for Eldorado Resorts in a research report issued on Wednesday, November 6th. Jefferies Financial Group analyst D. Katz now forecasts that the company will post earnings per share of $1.51 for the year, down from their prior estimate of $1.71. Jefferies Financial Group also issued estimates for Eldorado Resorts’ Q4 2019 earnings at $0.31 EPS and FY2020 earnings at $2.25 EPS.

Several other analysts also recently issued reports on ERI. Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 31st. ValuEngine downgraded Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on shares of Eldorado Resorts from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank reissued a “buy” rating and set a $66.00 price objective on shares of Eldorado Resorts in a research note on Wednesday, October 16th. Finally, BidaskClub raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus price target of $53.90.

ERI stock traded down $0.53 on Friday, reaching $49.90. The company had a trading volume of 74,114 shares, compared to its average volume of 1,367,649. Eldorado Resorts has a 1 year low of $31.86 and a 1 year high of $54.99. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.78 and a current ratio of 1.83. The company’s fifty day moving average is $42.54 and its 200 day moving average is $44.99. The company has a market cap of $3.59 billion, a P/E ratio of 36.16, a PEG ratio of 1.36 and a beta of 1.54.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Wednesday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Eldorado Resorts had a net margin of 3.90% and a return on equity of 9.47%. The company had revenue of $663.20 million during the quarter, compared to analysts’ expectations of $674.72 million. During the same period in the previous year, the company posted $0.48 EPS. Eldorado Resorts’s quarterly revenue was up 36.1% compared to the same quarter last year.

In related news, Director James B. Hawkins acquired 2,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $35.70 per share, with a total value of $71,400.00. Following the completion of the transaction, the director now directly owns 125,137 shares of the company’s stock, valued at approximately $4,467,390.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its holdings in Eldorado Resorts by 4.3% during the 2nd quarter. First Trust Advisors LP now owns 117,653 shares of the company’s stock valued at $5,420,000 after purchasing an additional 4,875 shares during the period. York Capital Management Global Advisors LLC bought a new position in Eldorado Resorts during the second quarter valued at $7,637,000. Yorktown Management & Research Co Inc lifted its position in Eldorado Resorts by 6.6% during the second quarter. Yorktown Management & Research Co Inc now owns 9,670 shares of the company’s stock valued at $445,000 after purchasing an additional 602 shares during the last quarter. Canyon Capital Advisors LLC bought a new position in Eldorado Resorts during the second quarter valued at $15,761,000. Finally, Prudential Financial Inc. lifted its position in Eldorado Resorts by 8.1% during the second quarter. Prudential Financial Inc. now owns 44,373 shares of the company’s stock valued at $2,044,000 after purchasing an additional 3,330 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Eldorado Resorts (NASDAQ:ERI)

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