Eldorado Resorts, Inc. (NASDAQ:ERI)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks, Inc. in a report issued on Friday. They presently have a $29.00 target price on the stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 3.57% from the stock’s previous close.
Several other research analysts also recently weighed in on the company. BidaskClub downgraded Eldorado Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. TheStreet upgraded Eldorado Resorts from a “c” rating to a “b-” rating in a research note on Wednesday. Deutsche Bank AG assumed coverage on Eldorado Resorts in a research note on Monday, September 25th. They set a “buy” rating and a $32.00 price target for the company. Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research note on Thursday, July 20th. They set an “overweight” rating and a $24.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.75.
Shares of Eldorado Resorts (NASDAQ ERI) opened at $28.00 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.44 and a quick ratio of 1.37.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Eldorado Resorts had a negative return on equity of 3.40% and a negative net margin of 1.20%. The business had revenue of $444.87 million during the quarter, compared to analyst estimates of $448.30 million. During the same period in the prior year, the firm posted $0.20 EPS. Eldorado Resorts’s quarterly revenue was down 1.0% compared to the same quarter last year. analysts expect that Eldorado Resorts will post -0.29 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Eldorado Resorts by 75.0% in the 2nd quarter. FMR LLC now owns 3,389,255 shares of the company’s stock worth $67,785,000 after purchasing an additional 1,452,155 shares during the period. Renaissance Technologies LLC increased its stake in Eldorado Resorts by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock worth $48,390,000 after purchasing an additional 1,624,021 shares during the period. Westfield Capital Management Co. LP increased its stake in Eldorado Resorts by 41.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock worth $42,956,000 after purchasing an additional 625,911 shares during the period. Vanguard Group Inc. increased its stake in Eldorado Resorts by 78.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock worth $39,146,000 after purchasing an additional 859,537 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in Eldorado Resorts by 130.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,584,460 shares of the company’s stock worth $40,641,000 after purchasing an additional 895,489 shares during the period. 71.05% of the stock is currently owned by institutional investors.
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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