Eldorado Resorts, Inc. (ERI) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Eldorado Resorts, Inc. (NASDAQ:ERI) posted its quarterly earnings data on Thursday. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02, Briefing.com reports. The business had revenue of $444.87 million for the quarter, compared to analysts’ expectations of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 3.40%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS.
Shares of Eldorado Resorts (ERI) traded up $2.20 during trading hours on Friday, reaching $28.00. 3,185,602 shares of the company’s stock traded hands, compared to its average volume of 817,670.
Several equities research analysts recently commented on ERI shares. TheStreet raised shares of Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday. BidaskClub cut shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. Deutsche Bank AG started coverage on shares of Eldorado Resorts in a research report on Monday, September 25th. They issued a “buy” rating and a $32.00 price objective on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Eldorado Resorts in a research report on Tuesday, October 24th. Finally, Zacks Investment Research raised shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.
About Eldorado Resorts
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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