Eldorado Resorts (NASDAQ:ERI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
ERI has been the topic of a number of other reports. ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. Jefferies Financial Group set a $57.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Monday, November 26th. Roth Capital increased their price target on shares of Eldorado Resorts from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 13th. Finally, Deutsche Bank set a $54.00 price target on shares of Eldorado Resorts and gave the company a “buy” rating in a research report on Saturday, November 10th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Eldorado Resorts currently has an average rating of “Buy” and an average price target of $51.38.
Shares of NASDAQ ERI traded down $1.58 during mid-day trading on Wednesday, hitting $40.95. The company’s stock had a trading volume of 1,213,991 shares, compared to its average volume of 1,421,054. The firm has a market capitalization of $3.40 billion, a PE ratio of 4,095.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 2.86. Eldorado Resorts has a one year low of $29.16 and a one year high of $50.64.
Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $487.25 million during the quarter, compared to the consensus estimate of $494.60 million. Eldorado Resorts had a net margin of 10.21% and a return on equity of 12.38%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. As a group, equities research analysts anticipate that Eldorado Resorts will post 1.87 earnings per share for the current fiscal year.
In related news, CFO Thomas Reeg bought 3,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average cost of $33.70 per share, for a total transaction of $101,100.00. Following the acquisition, the chief financial officer now owns 125,485 shares of the company’s stock, valued at approximately $4,228,844.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, COO Anthony L. Carano bought 1,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were bought 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 in the company, valued at approximately $1,230,242.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,700 shares of company stock worth $516,481 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew 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 worth $130,000 after acquiring an additional 2,468 shares in the last quarter. Strs Ohio bought a new position in shares of Eldorado Resorts during the 2nd quarter worth approximately $156,000. Oppenheimer Asset Management Inc. bought a new position in shares of Eldorado Resorts during the 3rd quarter worth approximately $252,000. Invictus RG bought a new position in shares of Eldorado Resorts during the 3rd quarter worth approximately $268,000. Finally, Hsbc Holdings PLC bought a new position in shares of Eldorado Resorts during the 3rd quarter worth approximately $277,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.
About Eldorado Resorts
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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