Analysts Anticipate Eldorado Resorts Inc (ERI) Will Announce Quarterly Sales of $414.56 Million
Brokerages predict that Eldorado Resorts Inc (NASDAQ:ERI) will report $414.56 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Eldorado Resorts’ earnings, with the highest sales estimate coming in at $429.78 million and the lowest estimate coming in at $403.59 million. Eldorado Resorts posted sales of $227.38 million during the same quarter last year, which suggests a positive year over year growth rate of 82.3%. The firm is expected to issue its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Eldorado Resorts will report full year sales of $414.56 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.72 billion. For the next year, analysts anticipate that the company will report sales of $1.77 billion per share, with estimates ranging from $1.72 billion to $1.84 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $444.87 million for the quarter, compared to analysts’ expectations of $448.30 million. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share.
In other news, Director Bonnie Biumi sold 13,079 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Tomick purchased 1,700 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were bought 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 disclosure for this purchase can be found here. 1.14% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Eldorado Resorts by 58,900.0% during the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock valued at $118,000 after purchasing an additional 5,890 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Eldorado Resorts by 8,127.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock valued at $155,000 after purchasing an additional 7,640 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Eldorado Resorts by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after purchasing an additional 1,209 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Eldorado Resorts during the second quarter valued at approximately $210,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Eldorado Resorts during the second quarter valued at approximately $212,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Eldorado Resorts (ERI) traded down $0.20 during midday trading on Monday, reaching $32.35. 1,266,000 shares of the company were exchanged, compared to its average volume of 672,267. The company has a market capitalization of $2,485.27, a PE ratio of -119.81 and a beta of 1.04. Eldorado Resorts has a twelve month low of $14.90 and a twelve month high of $34.03. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78.
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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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