Analysts Anticipate Eldorado Resorts Inc (NASDAQ:ERI) Will Announce Earnings of $0.66 Per Share

Brokerages forecast that Eldorado Resorts Inc (NASDAQ:ERI) will report earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Eldorado Resorts’ earnings, with estimates ranging from $0.56 to $0.72. Eldorado Resorts posted earnings of $0.52 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.9%. The business is scheduled to announce its next earnings results on Thursday, November 14th.

On average, analysts expect that Eldorado Resorts will report full year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.84. For the next fiscal year, analysts forecast that the business will post earnings of $2.26 per share, with EPS estimates ranging from $1.61 to $2.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a return on equity of 9.57% and a net margin of 3.90%. The business had revenue of $637.10 million for the quarter, compared to analysts’ expectations of $658.74 million. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year.

A number of analysts recently weighed in on ERI shares. Wolfe Research upgraded Eldorado Resorts from a “peer perform” rating to an “outperform” rating and set a $46.12 target price for the company in a research report on Tuesday, June 25th. Deutsche Bank boosted their target price on Eldorado Resorts from $56.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. BidaskClub downgraded Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Stifel Nicolaus set a $58.00 target price on Eldorado Resorts and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Eldorado Resorts presently has a consensus rating of “Hold” and a consensus target price of $54.79.

In other news, Director James B. Hawkins bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $40.35 per share, for a total transaction of $242,100.00. Following the transaction, the director now directly owns 119,137 shares of the company’s stock, valued at approximately $4,807,177.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ERI. BlackRock Inc. lifted its position in Eldorado Resorts by 24.3% in the second quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after purchasing an additional 1,789,647 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Eldorado Resorts by 469.5% in the second quarter. Point72 Asset Management L.P. now owns 958,035 shares of the company’s stock valued at $44,137,000 after purchasing an additional 789,816 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Eldorado Resorts in the second quarter valued at approximately $25,460,000. OppenheimerFunds Inc. lifted its position in Eldorado Resorts by 4,099.9% in the first quarter. OppenheimerFunds Inc. now owns 490,544 shares of the company’s stock valued at $22,904,000 after purchasing an additional 478,864 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Eldorado Resorts by 53.3% in the second quarter. Invesco Ltd. now owns 1,307,443 shares of the company’s stock valued at $60,234,000 after purchasing an additional 454,691 shares during the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

Shares of NASDAQ ERI traded down $0.49 during midday trading on Friday, hitting $38.97. 87,129 shares of the company’s stock were exchanged, compared to its average volume of 1,651,575. Eldorado Resorts has a 12-month low of $31.86 and a 12-month high of $54.99. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $3.05 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46. The firm has a fifty day moving average price of $44.91.

About Eldorado Resorts

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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