Eldorado Resorts (NASDAQ:ERI) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, November 7th. J P Morgan Chase & Co upped their price target on Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. SunTrust Banks restated a “buy” rating and issued a $22.00 price target on shares of Eldorado Resorts in a report on Tuesday, October 24th. TheStreet upgraded Eldorado Resorts from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, Deutsche Bank initiated coverage on Eldorado Resorts in a report on Monday, September 25th. They issued a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.00.
Eldorado Resorts (NASDAQ ERI) traded up $0.85 on Thursday, reaching $32.70. 879,404 shares of the company were exchanged, compared to its average volume of 785,513. Eldorado Resorts has a 12-month low of $14.90 and a 12-month high of $32.78. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.78 and a quick ratio of 1.71.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $444.87 million during the quarter, compared to the consensus estimate of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. analysts expect that Eldorado Resorts will post -0.08 earnings per share for the current year.
In other news, Director Bonnie Biumi sold 13,079 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $29.50, for a total transaction of $385,830.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Tomick bought 1,700 shares of Eldorado Resorts stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $28.70 per share, with a total value of $48,790.00. Following the completion of the purchase, the director now owns 10,400 shares in the company, valued at approximately $298,480. The disclosure for this purchase can be found here. 1.18% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Eldorado Resorts by 58,900.0% during the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after purchasing an additional 5,890 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Eldorado Resorts by 8,127.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after purchasing an additional 7,640 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Eldorado Resorts by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after purchasing an additional 1,209 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Eldorado Resorts during the second quarter worth $174,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Eldorado Resorts during the second quarter worth $210,000. Institutional investors own 81.23% of the company’s stock.
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About Eldorado Resorts
Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.
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