Brokerages predict that Eldorado Resorts Inc (NASDAQ:ERI) will post sales of $493.73 million for the current quarter, Zacks reports. Four analysts have provided estimates for Eldorado Resorts’ earnings, with the highest sales estimate coming in at $506.30 million and the lowest estimate coming in at $480.70 million. Eldorado Resorts posted sales of $444.87 million during the same quarter last year, which suggests a positive year over year growth rate of 11%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Eldorado Resorts will report full-year sales of $1.84 billion for the current year, with estimates ranging from $1.81 billion to $1.87 billion. For the next year, analysts forecast that the firm will post sales of $1.89 billion per share, with estimates ranging from $1.72 billion to $2.01 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The company had revenue of $456.80 million for the quarter, compared to analysts’ expectations of $461.57 million. Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.68) EPS.
Several research firms have weighed in on ERI. Roth Capital raised their price target on Eldorado Resorts from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Finally, Telsey Advisory Group raised their price target on Eldorado Resorts from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Eldorado Resorts has an average rating of “Buy” and a consensus target price of $46.94.
In other Eldorado Resorts news, COO Anthony L. Carano acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were acquired at an average price of $45.60 per share, for a total transaction of $45,600.00. Following the completion of the acquisition, the chief operating officer now directly owns 26,979 shares of the company’s stock, valued at $1,230,242.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James B. Hawkins acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $169,800.00. Following the acquisition, the director now directly owns 107,832 shares of the company’s stock, valued at $4,577,468.40. The disclosure for this purchase can be found here. Insiders have bought 6,000 shares of company stock worth $261,900 in the last 90 days. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of ERI. Swiss National Bank boosted its holdings in Eldorado Resorts by 1.8% in the first quarter. Swiss National Bank now owns 86,444 shares of the company’s stock valued at $2,853,000 after acquiring an additional 1,500 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Eldorado Resorts by 13.3% in the first quarter. PNC Financial Services Group Inc. now owns 14,864 shares of the company’s stock valued at $490,000 after acquiring an additional 1,740 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Eldorado Resorts by 14.8% in the second quarter. Gabelli Funds LLC now owns 15,500 shares of the company’s stock valued at $606,000 after acquiring an additional 2,000 shares during the last quarter. United Services Automobile Association boosted its holdings in Eldorado Resorts by 20.9% in the second quarter. United Services Automobile Association now owns 13,302 shares of the company’s stock valued at $520,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Eldorado Resorts by 282.7% in the second quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after acquiring an additional 2,468 shares during the last quarter. Institutional investors and hedge funds own 88.32% of the company’s stock.
Eldorado Resorts stock traded down $1.00 during mid-day trading on Wednesday, hitting $47.85. 806,800 shares of the company were exchanged, compared to its average volume of 892,067. The company has a debt-to-equity ratio of 2.20, a quick ratio of 2.25 and a current ratio of 2.32. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 4,775.00 and a beta of 1.08. Eldorado Resorts has a 12-month low of $23.95 and a 12-month high of $50.00.
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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