Zacks: Analysts Expect Eldorado Resorts Inc (ERI) Will Post Earnings of $0.43 Per Share

Brokerages forecast that Eldorado Resorts Inc (NASDAQ:ERI) will report earnings per share of $0.43 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Eldorado Resorts’ earnings, with estimates ranging from $0.21 to $0.77. Eldorado Resorts posted earnings of $0.20 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 115%. The business is scheduled to announce its next earnings results on Thursday, February 28th.

On average, analysts expect that Eldorado Resorts will report full year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.43 to $1.99. For the next fiscal year, analysts forecast that the business will post earnings of $3.34 per share, with EPS estimates ranging from $2.57 to $4.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). Eldorado Resorts had a net margin of 10.21% and a return on equity of 12.38%. The business had revenue of $487.25 million during the quarter, compared to analyst estimates of $494.60 million. During the same quarter last year, the company posted $0.38 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. Jefferies Financial Group set a $57.00 price objective on shares of Eldorado Resorts and gave the stock a “buy” rating in a research note on Monday, November 26th. Zacks Investment Research upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, November 14th. Finally, Roth Capital increased their price objective on shares of Eldorado Resorts from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Eldorado Resorts currently has an average rating of “Buy” and an average price target of $51.38.

ERI stock opened at $42.53 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 4,253.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.57 and a current ratio of 1.63. Eldorado Resorts has a 52 week low of $29.16 and a 52 week high of $50.64.

In related news, Director Michael E. Pegram bought 10,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was purchased at an average price of $33.91 per share, with a total value of $339,100.00. Following the completion of the acquisition, the director now owns 100,529 shares of the company’s stock, valued at $3,408,938.39. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO Anthony L. Carano bought 1,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was bought at an average cost of $45.60 per share, with a total value of $45,600.00. Following the acquisition, the chief operating officer now directly owns 26,979 shares of the company’s stock, valued at approximately $1,230,242.40. The disclosure for this purchase can be found here. Insiders have acquired 15,000 shares of company stock worth $532,300 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in Eldorado Resorts by 282.7% in the 2nd quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after buying an additional 2,468 shares during the last quarter. Strs Ohio bought a new position in Eldorado Resorts in the 2nd quarter valued at approximately $156,000. Oppenheimer Asset Management Inc. bought a new position in Eldorado Resorts in the 3rd quarter valued at approximately $252,000. Invictus RG bought a new position in Eldorado Resorts in the 3rd quarter valued at approximately $268,000. Finally, Hsbc Holdings PLC bought a new position in Eldorado Resorts in the 3rd quarter valued at approximately $277,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

About Eldorado Resorts

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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