Wall Street brokerages predict that Eldorado Resorts Inc (NASDAQ:ERI) will announce $638.74 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Eldorado Resorts’ earnings, with the lowest sales estimate coming in at $631.58 million and the highest estimate coming in at $654.20 million. Eldorado Resorts reported sales of $671.76 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.9%. The firm is expected to report its next earnings results on Wednesday, February 26th.
According to Zacks, analysts expect that Eldorado Resorts will report full-year sales of $2.59 billion for the current fiscal year, with estimates ranging from $2.57 billion to $2.63 billion. For the next year, analysts forecast that the firm will report sales of $2.65 billion, with estimates ranging from $2.60 billion to $2.72 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.15). The firm had revenue of $663.20 million for the quarter, compared to the consensus estimate of $674.72 million. Eldorado Resorts had a net margin of 3.90% and a return on equity of 9.47%. The business’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share.
A number of equities analysts have commented on ERI shares. BidaskClub upgraded shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Deutsche Bank restated a “buy” rating and issued a $66.00 target price on shares of Eldorado Resorts in a research note on Wednesday, October 16th. Zacks Investment Research downgraded shares of Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 31st. TheStreet downgraded shares of Eldorado Resorts from a “b” rating to a “c+” rating in a research note on Friday, September 6th. Finally, ValuEngine downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.90.
In related news, Director James B. Hawkins bought 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $35.70 per share, for a total transaction of $71,400.00. Following the purchase, the director now directly owns 125,137 shares of the company’s stock, valued at $4,467,390.90. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Eldorado Resorts by 59.3% during the third quarter. Nisa Investment Advisors LLC now owns 860 shares of the company’s stock valued at $34,000 after purchasing an additional 320 shares in the last quarter. Dorsey Wright & Associates boosted its stake in shares of Eldorado Resorts by 33.3% during the second quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock valued at $42,000 after purchasing an additional 230 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Eldorado Resorts by 1,824.3% during the second quarter. NEXT Financial Group Inc now owns 1,424 shares of the company’s stock valued at $65,000 after purchasing an additional 1,350 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Eldorado Resorts during the first quarter valued at approximately $69,000. Finally, Cerebellum GP LLC bought a new position in shares of Eldorado Resorts during the third quarter valued at approximately $73,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.
NASDAQ:ERI traded up $1.42 during mid-day trading on Monday, hitting $51.50. 1,247,657 shares of the stock traded hands, compared to its average volume of 1,291,380. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 1.36 and a beta of 1.54. Eldorado Resorts has a 52 week low of $31.86 and a 52 week high of $54.99. The firm’s 50 day moving average is $42.96 and its two-hundred day moving average is $44.99. The company has a quick ratio of 1.78, a current ratio of 1.83 and a debt-to-equity ratio of 3.67.
Eldorado Resorts Company Profile
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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