Eldorado Resorts, Inc. (ERI) Reaches New 1-Year High at $24.35
Eldorado Resorts, Inc. (NASDAQ:ERI)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.35 and last traded at $24.35, with a volume of 513,130 shares trading hands. The stock had previously closed at $24.05.
Several equities research analysts have recently weighed in on the company. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, August 15th. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Zacks Investment Research downgraded Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Eldorado Resorts currently has a consensus rating of “Buy” and a consensus target price of $25.00.
The firm’s 50 day moving average is $22.15 and its 200-day moving average is $20.13.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $354.15 million. The business’s quarterly revenue was up 53.6% on a year-over-year basis. Equities analysts predict that Eldorado Resorts, Inc. will post ($0.29) EPS for the current fiscal year.
In related news, insider Thomas Reeg acquired 2,500 shares of Eldorado Resorts stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the transaction, the insider now directly owns 46,200 shares of the company’s stock, valued at approximately $925,386. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.14% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Eldorado Resorts by 82.6% during the 1st quarter. Bank of New York Mellon Corp now owns 393,181 shares of the company’s stock valued at $7,441,000 after acquiring an additional 177,902 shares in the last quarter. Sei Investments Co. bought a new stake in Eldorado Resorts during the 1st quarter valued at $578,000. Parametric Portfolio Associates LLC raised its stake in Eldorado Resorts by 50.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock valued at $1,425,000 after acquiring an additional 25,325 shares in the last quarter. Trexquant Investment LP bought a new stake in Eldorado Resorts during the 1st quarter valued at $457,000. Finally, Airain ltd bought a new stake in Eldorado Resorts during the 1st quarter valued at $625,000. Institutional investors and hedge funds own 69.44% of the company’s stock.
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Eldorado Resorts Company Profile
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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