Eldorado Resorts Inc (ERI) Receives Outperform Rating from Imperial Capital

Imperial Capital restated their outperform rating on shares of Eldorado Resorts Inc (NASDAQ:ERI) in a research note released on Friday, May 5th. Imperial Capital currently has a $26.00 price target on the stock, up from their prior price target of $24.00.

Separately, Zacks Investment Research downgraded Eldorado Resorts from a hold rating to a strong sell rating in a research note on Monday, March 13th.

Eldorado Resorts (NASDAQ:ERI) traded up 0.627% during midday trading on Friday, hitting $20.075. The stock had a trading volume of 164,734 shares. The stock has a 50-day moving average of $19.39 and a 200-day moving average of $16.70. The firm has a market cap of $1.52 billion, a P/E ratio of 42.804 and a beta of 1.07. Eldorado Resorts has a 52 week low of $10.65 and a 52 week high of $21.15.

Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 4th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.16. The firm had revenue of $200.90 million during the quarter, compared to analyst estimates of $209.75 million. Eldorado Resorts had a net margin of 15.05% and a return on equity of 47.48%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. Analysts forecast that Eldorado Resorts will post $0.66 EPS for the current fiscal year.

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In other news, Director Roger P. Wagner bought 1,744 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $18.70 per share, with a total value of $32,612.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.18% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in Eldorado Resorts by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 34,784 shares of the company’s stock worth $590,000 after buying an additional 111 shares during the period. Alambic Investment Management L.P. raised its position in Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock worth $852,000 after buying an additional 400 shares in the last quarter. American International Group Inc. raised its position in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock worth $334,000 after buying an additional 1,170 shares in the last quarter. Teachers Advisors LLC raised its position in Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock worth $961,000 after buying an additional 1,558 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock worth $300,000 after buying an additional 2,940 shares in the last quarter. 54.74% of the stock is currently owned by institutional investors.

About Eldorado Resorts

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.

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