Eldorado Resorts, Inc. (ERI) Expected to Announce Quarterly Sales of $408.39 Million
Wall Street brokerages expect that Eldorado Resorts, Inc. (NASDAQ:ERI) will post sales of $408.39 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Eldorado Resorts’ earnings. The highest sales estimate is $412.05 million and the lowest is $402.82 million. Eldorado Resorts posted sales of $227.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 79.6%. The business is expected to issue its next quarterly earnings report on Thursday, March 8th.
On average, analysts expect that Eldorado Resorts will report full year sales of $408.39 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.70 billion. For the next financial year, analysts expect that the firm will report sales of $1.74 billion per share, with estimates ranging from $1.72 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $444.87 million during the quarter, compared to the consensus estimate of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 3.40%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share.
Several research analysts have commented on the stock. BidaskClub lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. J P Morgan Chase & Co assumed coverage on shares of Eldorado Resorts in a research note on Thursday, July 20th. They set an “overweight” rating and a $24.00 price objective for the company. TheStreet raised shares of Eldorado Resorts from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Deutsche Bank AG assumed coverage on shares of Eldorado Resorts in a research note on Monday, September 25th. They set a “buy” rating and a $32.00 target price for the company. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $29.00 target price on shares of Eldorado Resorts in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Eldorado Resorts currently has an average rating of “Buy” and an average price target of $27.75.
Several institutional investors and hedge funds have recently modified their holdings of ERI. FMR LLC raised its holdings in shares of Eldorado Resorts by 75.0% in the second quarter. FMR LLC now owns 3,389,255 shares of the company’s stock valued at $67,785,000 after acquiring an additional 1,452,155 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Eldorado Resorts by 204.2% in the second quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock valued at $48,390,000 after acquiring an additional 1,624,021 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Eldorado Resorts by 41.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock valued at $42,956,000 after acquiring an additional 625,911 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Eldorado Resorts by 78.3% in the second quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock valued at $39,146,000 after acquiring an additional 859,537 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Eldorado Resorts by 130.0% in the third quarter. Peregrine Capital Management LLC now owns 1,584,460 shares of the company’s stock valued at $40,641,000 after acquiring an additional 895,489 shares in the last quarter. 72.13% of the stock is owned by hedge funds and other institutional investors.
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Eldorado Resorts (NASDAQ ERI) traded up $0.40 during mid-day trading on Friday, hitting $29.00. 1,130,068 shares of the stock traded hands, compared to its average volume of 921,862. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.68. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $30.00.
Eldorado Resorts Company Profile
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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