Eldorado Resorts Inc (NASDAQ:ERI) Expected to Post Quarterly Sales of $684.33 Million

Brokerages forecast that Eldorado Resorts Inc (NASDAQ:ERI) will post sales of $684.33 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Eldorado Resorts’ earnings, with estimates ranging from $674.30 million to $705.60 million. Eldorado Resorts posted sales of $487.25 million during the same quarter last year, which suggests a positive year over year growth rate of 40.4%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Eldorado Resorts will report full year sales of $2.60 billion for the current year, with estimates ranging from $2.58 billion to $2.63 billion. For the next year, analysts expect that the company will post sales of $2.65 billion, with estimates ranging from $2.60 billion to $2.72 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a return on equity of 9.47% and a net margin of 3.90%. The business had revenue of $637.10 million during the quarter, compared to the consensus estimate of $658.74 million. During the same quarter in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis.

Several research firms have commented on ERI. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 8th. TheStreet lowered shares of Eldorado Resorts from a “b” rating to a “c+” rating in a research note on Friday, September 6th. Susquehanna Bancshares began coverage on shares of Eldorado Resorts in a research note on Wednesday, July 24th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus set a $58.00 price objective on shares of Eldorado Resorts and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $53.90.

Shares of ERI opened at $43.04 on Friday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.78 and a current ratio of 1.83. The company’s fifty day moving average is $40.59 and its 200 day moving average is $45.35. The stock has a market capitalization of $3.33 billion, a PE ratio of 31.19, a P/E/G ratio of 1.24 and a beta of 1.51. Eldorado Resorts has a fifty-two week low of $31.86 and a fifty-two week high of $54.99.

In related news, Director James B. Hawkins bought 6,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $40.35 per share, with a total value of $242,100.00. Following the completion of the purchase, the director now owns 119,137 shares of the company’s stock, valued at $4,807,177.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James B. Hawkins bought 2,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $35.70 per share, with a total value of $71,400.00. Following the completion of the purchase, the director now directly owns 125,137 shares of the company’s stock, valued at approximately $4,467,390.90. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ERI. HG Vora Capital Management LLC purchased a new stake in shares of Eldorado Resorts during the second quarter valued at $207,315,000. BlackRock Inc. raised its holdings in shares of Eldorado Resorts by 24.3% in the second quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after acquiring an additional 1,789,647 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Eldorado Resorts by 469.5% in the second quarter. Point72 Asset Management L.P. now owns 958,035 shares of the company’s stock valued at $44,137,000 after acquiring an additional 789,816 shares in the last quarter. Park West Asset Management LLC raised its holdings in shares of Eldorado Resorts by 24.9% in the second quarter. Park West Asset Management LLC now owns 3,154,116 shares of the company’s stock valued at $145,310,000 after acquiring an additional 629,116 shares in the last quarter. Finally, Pentwater Capital Management LP bought a new stake in shares of Eldorado Resorts in the second quarter valued at about $25,460,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

About Eldorado Resorts

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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