Eldorado Resorts, Inc. (ERI) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
Other analysts have also issued reports about the company. BidaskClub lowered Eldorado Resorts from a buy rating to a hold rating in a report on Tuesday, August 8th. J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a report on Thursday, July 20th. They set an overweight rating and a $24.00 price target on the stock. Finally, Deutsche Bank AG assumed coverage on Eldorado Resorts in a report on Monday, September 25th. They set a buy rating and a $32.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Eldorado Resorts presently has a consensus rating of Buy and an average price target of $27.33.
Eldorado Resorts (NASDAQ ERI) opened at 26.20 on Tuesday. The firm’s 50 day moving average price is $24.91 and its 200 day moving average price is $21.42. Eldorado Resorts has a 52-week low of $10.65 and a 52-week high of $27.15.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.95). The business had revenue of $355.20 million for the quarter, compared to the consensus estimate of $354.15 million. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. Equities research analysts predict that Eldorado Resorts will post ($0.29) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its position in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock worth $334,000 after buying an additional 1,170 shares during the last quarter. Victory Capital Management Inc. increased its position in Eldorado Resorts by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the last quarter. Teachers Advisors LLC increased its position in Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock worth $961,000 after buying an additional 1,558 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock worth $300,000 after buying an additional 2,940 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in Eldorado Resorts by 21.3% in the second quarter. Virginia Retirement Systems ET AL now owns 18,200 shares of the company’s stock worth $364,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 69.44% 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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