Eldorado Resorts, Inc. (ERI) Receives $22.33 Consensus PT from Brokerages
Eldorado Resorts, Inc. (NASDAQ:ERI) has received an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.33.
A number of equities analysts recently commented on ERI shares. Imperial Capital restated an “outperform” rating and set a $26.00 target price (up previously from $24.00) on shares of Eldorado Resorts in a report on Friday, May 5th. Zacks Investment Research raised Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. BidaskClub downgraded Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Finally, J P Morgan Chase & Co started coverage on Eldorado Resorts in a report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 target price on the stock.
Eldorado Resorts (NASDAQ:ERI) traded down 0.333% during mid-day trading on Monday, reaching $22.425. 164,399 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $20.45 and a 200-day moving average of $19.22. Eldorado Resorts has a one year low of $10.65 and a one year high of $23.50.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.95. Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The company had revenue of $355.20 million during the quarter, compared to the consensus estimate of $354.15 million. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities analysts forecast that Eldorado Resorts will post ($0.29) earnings per share for the current fiscal year.
In other Eldorado Resorts news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of Eldorado Resorts stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.51, for a total transaction of $427,920.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Reeg bought 2,500 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were purchased at an average cost of $20.03 per share, with a total value of $50,075.00. Following the completion of the transaction, the insider now owns 46,200 shares in the company, valued at $925,386. The disclosure for this purchase can be found here. Company insiders own 1.18% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its position in Eldorado Resorts by 23.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,521,901 shares of the company’s stock valued at $28,802,000 after buying an additional 286,205 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock valued at $961,000 after buying an additional 1,558 shares during the period. FMR LLC increased its position in shares of Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock valued at $36,660,000 after buying an additional 1,396,588 shares during the period. American International Group Inc. increased its position in shares of Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock valued at $334,000 after buying an additional 1,170 shares during the period. Finally, Alambic Investment Management L.P. increased its position in shares of Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock valued at $852,000 after buying an additional 400 shares during the period. 65.18% of the stock is owned by hedge funds and other institutional investors.
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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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