Eldorado Resorts (ERI) Sees Large Volume Increase Following Analyst Upgrade

Shares of Eldorado Resorts (NASDAQ:ERI) saw unusually-strong trading volume on Tuesday after Deutsche Bank raised their price target on the stock from $38.00 to $48.00. Deutsche Bank currently has a buy rating on the stock. Approximately 456,290 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 767,960 shares.The stock last traded at $41.25 and had previously closed at $41.50.

A number of other equities analysts have also commented on the company. Jefferies Group started coverage on Eldorado Resorts in a report on Thursday, January 18th. They issued a “buy” rating and a $40.00 price target for the company. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 14th. Zacks Investment Research lowered shares of Eldorado Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Roth Capital initiated coverage on shares of Eldorado Resorts in a research note on Tuesday, February 20th. They set a “buy” rating and a $41.00 target price for the company. Finally, SunTrust Banks reiterated an “average” rating and set a $36.00 target price on shares of Eldorado Resorts in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.49.

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A number of institutional investors and hedge funds have recently made changes to their positions in ERI. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Eldorado Resorts by 117.4% in the 4th 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 in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Eldorado Resorts during the fourth quarter worth $206,000. Amalgamated Bank acquired a new position in shares of Eldorado Resorts during the fourth quarter worth $211,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Eldorado Resorts during the fourth quarter worth $223,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Eldorado Resorts during the fourth quarter worth $239,000. Institutional investors and hedge funds own 84.36% of the company’s stock.

The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $2,757.51, a P/E ratio of 4,085.00 and a beta of 1.04.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Eldorado Resorts had a negative return on equity of 0.19% and a net margin of 5.17%. The firm had revenue of $428.22 million for the quarter, compared to analyst estimates of $431.27 million. research analysts anticipate that Eldorado Resorts will post 1.9 EPS for the current fiscal year.

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Eldorado Resorts Company Profile

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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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