Eldorado Resorts, Inc. (ERI) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $32.00 price target on the stock.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
Several other research analysts have also commented on ERI. SunTrust Banks, Inc. reaffirmed a buy rating and set a $29.00 price objective on shares of Eldorado Resorts in a research note on Friday, November 3rd. BidaskClub upgraded Eldorado Resorts from a hold rating to a buy rating in a research report on Tuesday, August 15th. TheStreet upgraded Eldorado Resorts from a c rating to a b- rating in a research report on Wednesday, November 1st. Deutsche Bank AG assumed coverage on Eldorado Resorts in a research report on Monday, September 25th. They set a buy rating and a $32.00 target price for the company. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research report on Thursday, July 20th. They set an overweight rating and a $24.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $28.60.
Eldorado Resorts (ERI) traded up $0.10 during midday trading on Tuesday, reaching $28.65. 1,112,075 shares of the company’s stock traded hands, compared to its average volume of 711,828. The company has a quick ratio of 1.37, a current ratio of 1.78 and a debt-to-equity ratio of 2.60. Eldorado Resorts has a 52 week low of $11.80 and a 52 week high of $30.00.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $444.87 million during the quarter, compared to analyst estimates of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. Eldorado Resorts’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. analysts predict that Eldorado Resorts will post -0.08 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Eldorado Resorts by 58,900.0% during the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after purchasing an additional 5,890 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Eldorado Resorts during the first quarter worth $140,000. BNP Paribas Arbitrage SA raised its holdings in shares of Eldorado Resorts by 8,127.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock valued at $155,000 after acquiring an additional 7,640 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Eldorado Resorts by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Eldorado Resorts in the second quarter valued at about $174,000. Institutional investors and hedge funds own 72.13% of the company’s stock.
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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