Eldorado Resorts, Inc. (NASDAQ:ERI) had its price target increased by equities research analysts at J P Morgan Chase & Co from $29.00 to $31.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price target points to a potential upside of 5.98% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. TheStreet raised Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, August 15th. Deutsche Bank AG initiated coverage on Eldorado Resorts in a research note on Monday, September 25th. They set a “buy” rating and a $32.00 target price for the company. SunTrust Banks, Inc. restated a “buy” rating and set a $22.00 target price on shares of Eldorado Resorts in a research note on Tuesday, October 24th. Finally, Zacks Investment Research upgraded Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Eldorado Resorts presently has a consensus rating of “Buy” and a consensus target price of $30.00.
Shares of Eldorado Resorts (NASDAQ ERI) traded up $0.25 during trading hours on Wednesday, reaching $29.25. The company had a trading volume of 920,400 shares, compared to its average volume of 713,969. Eldorado Resorts has a 1-year low of $13.00 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $444.87 million for the quarter, compared to the consensus estimate of $448.30 million. Eldorado Resorts had a negative return on equity of 2.83% and a negative net margin of 1.20%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 earnings per share. analysts anticipate that Eldorado Resorts will post -0.08 EPS for the current fiscal year.
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In other Eldorado Resorts news, Director David P. Tomick bought 1,700 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $28.70 per share, for a total transaction of $48,790.00. Following the completion of the purchase, the director now directly owns 10,400 shares of the company’s stock, valued at $298,480. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.18% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. lifted its stake in shares of Eldorado Resorts by 7.1% in the 1st quarter. American International Group Inc. now owns 17,642 shares of the company’s stock valued at $334,000 after acquiring an additional 1,170 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Eldorado Resorts by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after acquiring an additional 1,209 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Eldorado Resorts by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock valued at $961,000 after acquiring an additional 1,558 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in shares of Eldorado Resorts by 21.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 18,200 shares of the company’s stock valued at $364,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Eldorado Resorts by 59.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,804 shares of the company’s stock valued at $236,000 after acquiring an additional 4,396 shares during the last quarter. Institutional investors own 73.50% of the company’s stock.
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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