Shares of Eldorado Resorts Inc (NASDAQ:ERI) saw unusually-high trading volume on Monday . Approximately 2,054,903 shares were traded during trading, an increase of 103% from the previous session’s volume of 1,011,089 shares.The stock last traded at $39.38 and had previously closed at $35.85.
ERI has been the subject of a number of recent analyst reports. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. Jefferies Financial Group set a $57.00 target price on Eldorado Resorts and gave the company a “buy” rating in a report on Friday, October 5th. JPMorgan Chase & Co. set a $60.00 target price on Eldorado Resorts and gave the company a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded Eldorado Resorts from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday, November 14th. Finally, Roth Capital upped their target price on Eldorado Resorts from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 13th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Eldorado Resorts has an average rating of “Buy” and an average price target of $51.38.
The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 3,938.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.63 and a quick ratio of 1.57.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). The firm had revenue of $487.25 million during the quarter, compared to analysts’ expectations of $494.60 million. Eldorado Resorts had a return on equity of 12.38% and a net margin of 10.21%. Eldorado Resorts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. On average, analysts predict that Eldorado Resorts Inc will post 1.87 EPS for the current fiscal year.
In other news, CFO Thomas Reeg purchased 3,000 shares of Eldorado Resorts stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average cost of $33.70 per share, with a total value of $101,100.00. Following the completion of the purchase, the chief financial officer now directly owns 125,485 shares in the company, valued at $4,228,844.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anthony L. Carano purchased 1,000 shares of Eldorado Resorts stock in a transaction that occurred on Friday, September 7th. The stock was purchased at an average cost of $45.60 per share, for a total transaction of $45,600.00. Following the completion of the purchase, the chief operating officer now owns 26,979 shares of the company’s stock, valued at $1,230,242.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 15,000 shares of company stock worth $532,300. 1.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Eldorado Resorts by 6.2% in the third quarter. Vanguard Group Inc. now owns 5,313,352 shares of the company’s stock worth $258,228,000 after acquiring an additional 310,483 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Eldorado Resorts by 1.8% during the third quarter. Morgan Stanley now owns 314,757 shares of the company’s stock valued at $15,297,000 after purchasing an additional 5,673 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Eldorado Resorts by 171.5% during the third quarter. Legal & General Group Plc now owns 63,172 shares of the company’s stock valued at $3,070,000 after purchasing an additional 39,907 shares in the last quarter. New Mexico Educational Retirement Board bought a new position in shares of Eldorado Resorts during the third quarter valued at $685,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Eldorado Resorts by 33.8% during the third quarter. Nordea Investment Management AB now owns 96,568 shares of the company’s stock valued at $4,692,000 after purchasing an additional 24,398 shares in the last quarter. 98.17% of the stock is currently owned by hedge funds and other institutional investors.
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Eldorado Resorts Company Profile (NASDAQ:ERI)
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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