Eldorado Resorts Inc (ERI) Lifted to “Hold” at Zacks Investment Research

Eldorado Resorts Inc (NASDAQ:ERI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, May 8th.

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. “

Separately, Imperial Capital reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Eldorado Resorts in a research note on Friday, May 5th.

Shares of Eldorado Resorts (NASDAQ:ERI) traded down 1.25% during mid-day trading on Monday, reaching $19.70. The company had a trading volume of 759,037 shares. The company’s 50-day moving average is $19.39 and its 200 day moving average is $16.70. The stock has a market capitalization of $1.49 billion, a P/E ratio of 42.00 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 posted its earnings results on Thursday, May 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.20 by $0.16. Eldorado Resorts had a return on equity of 47.48% and a net margin of 15.05%. The business had revenue of $200.90 million for the quarter, compared to analyst estimates of $209.75 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts anticipate that Eldorado Resorts will post $0.66 EPS for the current fiscal year.

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In other Eldorado Resorts news, Director Roger P. Wagner purchased 1,744 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $18.70 per share, for a total transaction of $32,612.80. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.18% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock worth $36,660,000 after buying an additional 1,396,588 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Eldorado Resorts during the fourth quarter worth about $6,671,000. RWC Asset Management LLP increased its position in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock worth $15,573,000 after buying an additional 378,024 shares in the last quarter. J. Goldman & Co LP purchased a new position in Eldorado Resorts during the fourth quarter worth about $5,610,000. Finally, Westfield Capital Management Co. LP increased its position in shares of Eldorado Resorts by 23.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,521,901 shares of the company’s stock worth $28,802,000 after buying an additional 286,205 shares during the period. 54.74% of the stock is currently owned by hedge funds and other 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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