Shares of Eldorado Resorts Inc (NASDAQ:ERI) dropped 5.4% on Friday . The stock traded as low as $37.86 and last traded at $37.88, approximately 1,910,735 shares changed hands during trading. An increase of 59% from the average daily volume of 1,198,801 shares. The stock had previously closed at $40.04.
ERI has been the subject of several research analyst reports. Wolfe Research raised shares of Eldorado Resorts from a “peer perform” rating to an “outperform” rating and set a $46.12 target price for the company in a research note on Tuesday, June 25th. Susquehanna Bancshares initiated coverage on shares of Eldorado Resorts in a research note on Wednesday, July 24th. They set a “neutral” rating and a $50.00 target price for the company. BidaskClub lowered shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Stifel Nicolaus set a $58.00 target price on shares of Eldorado Resorts and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Eldorado Resorts currently has an average rating of “Hold” and a consensus target price of $54.79.
The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.13 and a beta of 1.46. The company has a quick ratio of 1.78, a current ratio of 1.83 and a debt-to-equity ratio of 3.67. The company’s 50-day moving average price is $43.68 and its 200-day moving average price is $47.25.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.25). The business had revenue of $637.10 million for the quarter, compared to analyst estimates of $658.74 million. Eldorado Resorts had a return on equity of 9.47% and a net margin of 3.90%. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. On average, sell-side analysts predict that Eldorado Resorts Inc will post 1.76 earnings per share for the current fiscal year.
In other Eldorado Resorts news, Director James B. Hawkins purchased 6,000 shares of Eldorado Resorts stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $40.35 per share, with a total value of $242,100.00. Following the completion of the transaction, the director now owns 119,137 shares of the company’s stock, valued at $4,807,177.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Eldorado Resorts by 25.3% in the fourth quarter. Bank of America Corp DE now owns 121,758 shares of the company’s stock worth $4,409,000 after purchasing an additional 24,586 shares during the last quarter. Norges Bank bought a new stake in Eldorado Resorts in the fourth quarter worth $12,463,000. Geode Capital Management LLC lifted its stake in Eldorado Resorts by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 726,208 shares of the company’s stock worth $26,295,000 after purchasing an additional 61,482 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Eldorado Resorts by 0.5% in the first quarter. Retirement Systems of Alabama now owns 84,672 shares of the company’s stock worth $3,953,000 after purchasing an additional 414 shares during the last quarter. Finally, Strs Ohio lifted its stake in Eldorado Resorts by 31.1% in the first quarter. Strs Ohio now owns 5,900 shares of the company’s stock worth $275,000 after purchasing an additional 1,400 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.
About Eldorado Resorts (NASDAQ:ERI)
Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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