Eldorado Resorts, Inc. (ERI) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Eldorado Resorts, Inc. (NASDAQ:ERI)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They currently have a $29.00 price objective on the stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 3.57% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. TheStreet upgraded shares of Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday. J P Morgan Chase & Co assumed coverage on shares of Eldorado Resorts in a research report on Thursday, July 20th. They set an “overweight” rating and a $24.00 price objective for the company. Deutsche Bank AG assumed 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. Finally, Zacks Investment Research upgraded shares of Eldorado Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.75.
Shares of Eldorado Resorts (NASDAQ ERI) traded up $2.35 during midday trading on Friday, hitting $28.00. 3,212,932 shares of the company traded hands, compared to its average volume of 817,670. The company has a current ratio of 1.44, a quick ratio of 1.37 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 (NASDAQ:ERI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ 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 3.40%. The company had revenue of $444.87 million during the quarter, compared to analysts’ expectations of $448.30 million. During the same period in the prior year, the company posted $0.20 earnings per share. Eldorado Resorts’s revenue for the quarter was down 1.0% compared to the same quarter last year. analysts anticipate that Eldorado Resorts will post -0.29 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its stake in shares of Eldorado Resorts by 121.0% in the second quarter. Sei Investments Co. now owns 67,446 shares of the company’s stock valued at $1,349,000 after buying an additional 36,928 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of Eldorado Resorts in the second quarter valued at $700,000. Federated Investors Inc. PA lifted its stake in shares of Eldorado Resorts by 143.0% in the second quarter. Federated Investors Inc. PA now owns 211,315 shares of the company’s stock valued at $4,227,000 after buying an additional 124,365 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Eldorado Resorts by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 688,971 shares of the company’s stock valued at $13,779,000 after buying an additional 13,769 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock valued at $36,660,000 after buying an additional 1,396,588 shares in the last quarter. 71.05% of the stock is currently owned by hedge funds and other institutional investors.
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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