Eldorado Resorts, Inc. (NASDAQ:ERI) has been given an average recommendation of “Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.33.
Several research analysts have weighed in on ERI shares. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. Deutsche Bank AG assumed coverage on Eldorado Resorts in a research report on Monday, September 25th. They issued a “buy” rating and a $32.00 price target on the stock. Zacks Investment Research upgraded Eldorado Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price target on the stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of Eldorado Resorts by 121.0% in the second quarter. Sei Investments Co. now owns 67,446 shares of the company’s stock worth $1,349,000 after purchasing an additional 36,928 shares during the period. Shell Asset Management Co. bought a new position in shares of Eldorado Resorts in the second quarter worth $700,000. Federated Investors Inc. PA increased its position in shares of Eldorado Resorts by 143.0% in the second quarter. Federated Investors Inc. PA now owns 211,315 shares of the company’s stock worth $4,227,000 after purchasing an additional 124,365 shares during the period. Peregrine Capital Management LLC increased its position in shares of Eldorado Resorts by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 688,971 shares of the company’s stock worth $13,779,000 after purchasing an additional 13,769 shares during the period. Finally, FMR LLC increased its position in shares of 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 purchasing an additional 1,396,588 shares during the period. Institutional investors own 69.44% of the company’s stock.
Eldorado Resorts (ERI) opened at 25.80 on Friday. The firm’s 50-day moving average is $25.31 and its 200 day moving average is $21.63. Eldorado Resorts has a 12 month low of $10.65 and a 12 month high of $27.15.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.95). The firm had revenue of $355.20 million for the quarter, compared to the consensus estimate of $354.15 million. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities research analysts forecast that Eldorado Resorts will post ($0.29) EPS for the current fiscal year.
Eldorado Resorts Company Profile
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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