Analysts expect that Eldorado Resorts Inc (NASDAQ:ERI) will announce sales of $94.77 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Eldorado Resorts’ earnings, with the lowest sales estimate coming in at $29.70 million and the highest estimate coming in at $159.80 million. Eldorado Resorts reported sales of $637.12 million during the same quarter last year, which indicates a negative year-over-year growth rate of 85.1%. The business is expected to report its next quarterly earnings report on Tuesday, August 4th.
On average, analysts expect that Eldorado Resorts will report full year sales of $3.84 billion for the current financial year, with estimates ranging from $1.38 billion to $5.48 billion. For the next year, analysts expect that the business will report sales of $8.28 billion, with estimates ranging from $1.70 billion to $11.03 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Monday, May 11th. The company reported ($2.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($2.37). Eldorado Resorts had a negative net margin of 5.62% and a positive return on equity of 7.93%. The company had revenue of $473.07 million during the quarter, compared to analyst estimates of $542.45 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis.
Several research firms have commented on ERI. Jefferies Financial Group boosted their price target on shares of Eldorado Resorts from $29.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Nomura Instinet boosted their price target on shares of Eldorado Resorts from $12.50 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 15th. Morgan Stanley boosted their price target on shares of Eldorado Resorts from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Eldorado Resorts currently has a consensus rating of “Buy” and a consensus price target of $42.40.
Several large investors have recently made changes to their positions in ERI. Synovus Financial Corp purchased a new stake in shares of Eldorado Resorts in the first quarter valued at about $28,000. Marshall Wace LLP acquired a new position in shares of Eldorado Resorts during the first quarter worth about $69,000. Advisor Group Inc. increased its stake in shares of Eldorado Resorts by 135.5% during the fourth quarter. Advisor Group Inc. now owns 2,190 shares of the company’s stock worth $130,000 after acquiring an additional 1,260 shares during the period. Advisor Group Holdings Inc. acquired a new position in shares of Eldorado Resorts during the first quarter worth about $135,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Eldorado Resorts during the first quarter worth about $151,000. 98.00% of the stock is owned by institutional investors and hedge funds.
Eldorado Resorts stock traded up $0.47 during trading on Friday, hitting $40.06. The company had a trading volume of 4,061,550 shares, compared to its average volume of 6,422,036. Eldorado Resorts has a 1-year low of $6.02 and a 1-year high of $70.74. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 4.10. The company’s 50 day simple moving average is $35.56 and its 200-day simple moving average is $39.85. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -23.43 and a beta of 2.79.
Eldorado Resorts Company Profile
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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