Eldorado Resorts (ERI) Trading Down 1.6%

Eldorado Resorts Inc (NASDAQ:ERI) was down 1.6% during trading on Thursday . The stock traded as low as $43.30 and last traded at $42.90. Approximately 12,610 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 737,772 shares. The stock had previously closed at $43.60.

ERI has been the subject of a number of recent analyst reports. SunTrust Banks upped their target price on Eldorado Resorts to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Macquarie raised Eldorado Resorts from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $17.30 to $38.45 in a research report on Tuesday, April 3rd. JPMorgan Chase & Co. set a $55.00 target price on Eldorado Resorts and gave the stock a “buy” rating in a research report on Friday, May 4th. ValuEngine raised Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 21st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Eldorado Resorts has a consensus rating of “Buy” and a consensus price target of $46.94.

The firm has a market capitalization of $3.35 billion, a P/E ratio of 4,290.00 and a beta of 1.03. The company has a quick ratio of 2.12, a current ratio of 2.19 and a debt-to-equity ratio of 2.28.

Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Eldorado Resorts had a return on equity of 2.81% and a net margin of 5.62%. The business had revenue of $440.19 million for the quarter, compared to analyst estimates of $446.15 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. equities research analysts expect that Eldorado Resorts Inc will post 1.89 EPS for the current fiscal year.

In other news, Director Roger P. Wagner sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $44.30, for a total transaction of $443,000.00. Following the completion of the transaction, the director now directly owns 130,000 shares in the company, valued at $5,759,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger P. Wagner sold 6,612 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $43.00, for a total value of $284,316.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,612 shares of company stock valued at $1,805,616. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ERI. Schwab Charles Investment Management Inc. raised its stake in shares of Eldorado Resorts by 11.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 258,402 shares of the company’s stock valued at $8,567,000 after purchasing an additional 27,058 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Eldorado Resorts in the fourth quarter valued at $206,000. Teacher Retirement System of Texas acquired a new position in shares of Eldorado Resorts in the fourth quarter valued at $563,000. California Public Employees Retirement System grew its position in Eldorado Resorts by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 151,521 shares of the company’s stock valued at $5,023,000 after acquiring an additional 1,800 shares during the period. Finally, Swiss National Bank grew its position in Eldorado Resorts by 3.2% in the fourth quarter. Swiss National Bank now owns 84,944 shares of the company’s stock valued at $2,816,000 after acquiring an additional 2,600 shares during the period. Institutional investors and hedge funds own 87.16% of the company’s stock.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.

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