Eldorado Resorts (NASDAQ:ERI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other equities research analysts also recently issued reports on the stock. Roth Capital upped their price objective on shares of Eldorado Resorts from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. Nomura started coverage on shares of Eldorado Resorts in a research report on Tuesday, May 8th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Telsey Advisory Group upped their price objective on shares of Eldorado Resorts from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Eldorado Resorts has a consensus rating of “Buy” and an average price target of $46.94.
Shares of ERI stock opened at $45.80 on Wednesday. Eldorado Resorts has a 52-week low of $23.30 and a 52-week high of $50.00. The company has a quick ratio of 2.25, a current ratio of 2.32 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 33.82 and a beta of 1.08.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.05). Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The firm had revenue of $456.80 million during the quarter, compared to the consensus estimate of $461.57 million. During the same period in the previous year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. equities analysts expect that Eldorado Resorts will post 1.84 EPS for the current year.
In related news, Director James B. Hawkins bought 1,000 shares of Eldorado Resorts stock in a transaction dated Wednesday, September 5th. The stock was purchased at an average cost of $46.50 per share, with a total value of $46,500.00. Following the transaction, the director now directly owns 108,832 shares of the company’s stock, valued at $5,060,688. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James B. Hawkins bought 4,000 shares of Eldorado Resorts stock in a transaction dated Tuesday, August 7th. The shares were bought at an average cost of $42.45 per share, with a total value of $169,800.00. Following the completion of the transaction, the director now directly owns 107,832 shares in the company, valued at $4,577,468.40. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in shares of Eldorado Resorts by 282.7% during the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after buying an additional 2,468 shares in the last quarter. Strs Ohio purchased a new stake in shares of Eldorado Resorts during the 2nd quarter valued at approximately $156,000. FNY Investment Advisers LLC purchased a new stake in shares of Eldorado Resorts during the 2nd quarter valued at approximately $185,000. Bluestein R H & Co. purchased a new stake in shares of Eldorado Resorts during the 1st quarter valued at approximately $254,000. Finally, Quantitative Systematic Strategies LLC lifted its stake in shares of Eldorado Resorts by 74.8% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 11,768 shares of the company’s stock valued at $388,000 after buying an additional 5,034 shares in the last quarter. 88.32% of the stock is owned by hedge funds and other institutional investors.
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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