Eldorado Resorts (ERI) Trading Down 6.4%

Shares of Eldorado Resorts Inc (NASDAQ:ERI) fell 6.4% during trading on Monday . The stock traded as low as $41.10 and last traded at $41.40. 1,099,311 shares were traded during trading, an increase of 43% from the average session volume of 769,111 shares. The stock had previously closed at $44.25.

Several brokerages recently commented on ERI. JPMorgan Chase & Co. increased their price objective on shares of Eldorado Resorts to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, April 17th. BidaskClub raised shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 17th. Roth Capital raised their price target on shares of Eldorado Resorts from $56.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, June 12th. Telsey Advisory Group started coverage on shares of Eldorado Resorts in a report on Tuesday, March 13th. They set an “outperform” rating and a $42.00 price target on the stock. Finally, Nomura started coverage on shares of Eldorado Resorts in a report on Tuesday, May 8th. They set a “neutral” rating and a $47.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.94.

The company has a debt-to-equity ratio of 2.28, a quick ratio of 2.12 and a current ratio of 2.19. The firm has a market cap of $3.42 billion, a PE ratio of 4,140.00 and a beta of 1.03.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The company had revenue of $440.19 million for the quarter, compared to analysts’ expectations of $446.15 million. Eldorado Resorts had a net margin of 5.62% and a return on equity of 2.81%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. analysts predict that Eldorado Resorts Inc will post 1.89 earnings per share for the current year.

In other Eldorado Resorts news, CFO Thomas Reeg acquired 1,500 shares of the stock in a transaction dated Thursday, May 24th. The shares were purchased at an average price of $43.03 per share, for a total transaction of $64,545.00. Following the purchase, the chief financial officer now directly owns 122,485 shares of the company’s stock, valued at $5,270,529.55. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Edmund L. Quatmann, Jr. sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $42.95, for a total transaction of $859,000.00. Following the completion of the transaction, the insider now owns 132,917 shares in the company, valued at approximately $5,708,785.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,612 shares of company stock worth $1,805,616. Insiders own 1.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Eldorado Resorts by 117.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after acquiring an additional 1,775 shares during the period. Amalgamated Bank bought a new stake in Eldorado Resorts during the 4th quarter worth approximately $211,000. Yorktown Management & Research Co Inc bought a new stake in Eldorado Resorts during the 4th quarter worth approximately $239,000. Bluestein R H & Co. bought a new stake in Eldorado Resorts during the 1st quarter worth approximately $254,000. Finally, Sapphire Star Partners LP bought a new stake in Eldorado Resorts during the 4th quarter worth approximately $366,000. Hedge funds and other institutional investors own 87.14% of the company’s stock.

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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