SunTrust Banks Research Analysts Lift Earnings Estimates for Eldorado Resorts Inc (ERI)

Eldorado Resorts Inc (NASDAQ:ERI) – Analysts at SunTrust Banks increased their Q1 2018 EPS estimates for Eldorado Resorts in a note issued to investors on Monday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings per share of $0.48 for the quarter, up from their prior estimate of $0.41. SunTrust Banks currently has a “Average” rating and a $36.00 target price on the stock. SunTrust Banks also issued estimates for Eldorado Resorts’ Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.32 EPS and FY2019 earnings at $2.12 EPS.

Several other research firms have also commented on ERI. BidaskClub lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Eldorado Resorts from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, November 15th. Zacks Investment Research lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet upgraded shares of Eldorado Resorts from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, Jefferies Group started coverage on shares of Eldorado Resorts in a report on Thursday, January 18th. They issued a “buy” rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Eldorado Resorts currently has a consensus rating of “Buy” and an average target price of $32.83.

Shares of Eldorado Resorts (ERI) opened at $33.70 on Tuesday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78. Eldorado Resorts has a 12-month low of $15.10 and a 12-month high of $35.30.

Hedge funds have recently added to or reduced their stakes in the company. SG Capital Management LLC acquired a new stake in shares of Eldorado Resorts during the third quarter worth approximately $13,014,000. Comerica Bank acquired a new stake in shares of Eldorado Resorts during the third quarter worth approximately $852,000. Nationwide Fund Advisors grew its position in shares of Eldorado Resorts by 60.7% during the third quarter. Nationwide Fund Advisors now owns 123,310 shares of the company’s stock worth $3,163,000 after buying an additional 46,554 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Eldorado Resorts by 15.0% during the third quarter. Wells Fargo & Company MN now owns 98,747 shares of the company’s stock worth $2,532,000 after buying an additional 12,877 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Eldorado Resorts during the third quarter worth approximately $2,190,000. 80.17% of the stock is owned by institutional investors and hedge funds.

In other news, Director Bonnie Biumi sold 13,079 shares of Eldorado Resorts stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David P. Tomick acquired 1,700 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $28.70 per share, for a total transaction of $48,790.00. Following the purchase, the director now directly owns 10,400 shares of the company’s stock, valued at $298,480. The disclosure for this purchase can be found here. Company insiders own 1.14% 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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