Eldorado Resorts, Inc. (ERI) Sees Unusually-High Trading Volume
Eldorado Resorts, Inc. (NASDAQ:ERI) saw unusually-high trading volume on Monday . Approximately 1,977,405 shares changed hands during trading, an increase of 175% from the previous session’s volume of 718,342 shares.The stock last traded at $29.65 and had previously closed at $29.20.
ERI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, November 7th. BidaskClub downgraded shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. SunTrust Banks, Inc. restated a “buy” rating and set a $22.00 price objective on shares of Eldorado Resorts in a research report on Tuesday, October 24th. J P Morgan Chase & Co boosted their price objective on shares of Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. Finally, Deutsche Bank AG initiated coverage on shares of Eldorado Resorts in a research report on Monday, September 25th. They set a “buy” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Eldorado Resorts presently has an average rating of “Buy” and a consensus target price of $30.00.
The company has a current ratio of 1.78, a quick ratio of 1.71 and a debt-to-equity ratio of 2.60.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The firm had revenue of $444.87 million during the quarter, compared to the consensus estimate of $448.30 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Eldorado Resorts’s revenue for the quarter was down 1.0% on a year-over-year basis. sell-side analysts forecast that Eldorado Resorts, Inc. will post -0.08 earnings per share for the current year.
In other Eldorado Resorts news, Director Bonnie Biumi sold 13,079 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Tomick acquired 1,700 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $28.70 per share, with a total value of $48,790.00. Following the transaction, the director now owns 10,400 shares in the company, valued at approximately $298,480. The disclosure for this purchase can be found here. 1.14% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its position in Eldorado Resorts by 58,900.0% during the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after buying an additional 5,890 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after buying an additional 7,640 shares during the last quarter. Victory Capital Management Inc. raised its position in Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Eldorado Resorts during the 2nd quarter worth $174,000. Finally, Fox Run Management L.L.C. purchased a new position in Eldorado Resorts during the 2nd quarter worth $208,000. Institutional investors own 73.33% of the company’s stock.
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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