Wall Street brokerages expect Eldorado Resorts Inc (NASDAQ:ERI) to announce sales of $433.06 million for the current quarter, according to Zacks. Four analysts have made estimates for Eldorado Resorts’ earnings. The highest sales estimate is $469.90 million and the lowest is $407.50 million. Eldorado Resorts reported sales of $227.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 90.5%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 22nd.
On average, analysts expect that Eldorado Resorts will report full year sales of $433.06 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.72 billion. For the next financial year, analysts expect that the firm will post sales of $1.85 billion per share, with estimates ranging from $1.75 billion to $1.98 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Eldorado Resorts.
Several equities analysts have recently issued reports on ERI shares. SunTrust Banks reiterated a “buy” rating and issued a $22.00 price objective on shares of Eldorado Resorts in a research note on Tuesday, October 24th. BidaskClub cut Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. TheStreet upgraded Eldorado Resorts from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Eldorado Resorts from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.83.
Hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in Eldorado Resorts by 117.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after purchasing an additional 1,775 shares during the last quarter. Citigroup Inc. lifted its stake in Eldorado Resorts by 58,900.0% during the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after purchasing an additional 5,890 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Eldorado Resorts during the fourth quarter worth approximately $206,000. Amalgamated Bank purchased a new stake in Eldorado Resorts during the fourth quarter worth approximately $211,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Eldorado Resorts during the fourth quarter worth approximately $223,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
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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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