Eldorado Resorts (NASDAQ:ERI) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday, September 15th.
ERI has been the subject of a number of other research reports. Roth Capital lifted their target price on shares of Eldorado Resorts from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. Telsey Advisory Group lifted their target price on shares of Eldorado Resorts from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Eldorado Resorts currently has an average rating of “Buy” and a consensus target price of $49.38.
Shares of ERI stock traded up $0.09 during mid-day trading on Friday, hitting $44.64. The stock had a trading volume of 1,935,300 shares, compared to its average volume of 912,677. Eldorado Resorts has a fifty-two week low of $23.95 and a fifty-two week high of $50.64. The stock has a market capitalization of $3.76 billion, a PE ratio of 4,464.00 and a beta of 1.08. The company has a debt-to-equity ratio of 2.20, a quick ratio of 2.25 and a current ratio of 2.32.
Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, August 2nd. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.05). Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The firm had revenue of $456.80 million during the quarter, compared to analyst estimates of $461.57 million. During the same quarter last year, the business posted ($0.68) EPS. The firm’s revenue was up 21.6% on a year-over-year basis. Equities analysts forecast that Eldorado Resorts will post 1.84 earnings per share for the current fiscal year.
In related news, Director James B. Hawkins bought 4,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $169,800.00. Following the completion of the acquisition, the director now owns 107,832 shares in the company, valued at $4,577,468.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anthony L. Carano bought 1,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was bought at an average price of $45.60 per share, with a total value of $45,600.00. Following the completion of the acquisition, the chief operating officer now owns 26,979 shares of the company’s stock, valued at approximately $1,230,242.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,000 shares of company stock valued at $261,900. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ERI. Navellier & Associates Inc grew its stake in Eldorado Resorts by 19.7% during the second quarter. Navellier & Associates Inc now owns 72,820 shares of the company’s stock worth $2,847,000 after buying an additional 11,976 shares during the period. Victory Capital Management Inc. lifted its position in shares of Eldorado Resorts by 19.3% during the second quarter. Victory Capital Management Inc. now owns 810,530 shares of the company’s stock worth $31,691,000 after purchasing an additional 131,250 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Eldorado Resorts during the second quarter worth $2,409,000. Centaurus Financial Inc. acquired a new position in shares of Eldorado Resorts during the second quarter worth $2,646,000. Finally, Royal Bank of Canada lifted its position in shares of Eldorado Resorts by 352.3% during the first quarter. Royal Bank of Canada now owns 14,587 shares of the company’s stock worth $481,000 after purchasing an additional 11,362 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
About Eldorado Resorts
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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