Eldorado Resorts (ERI) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS
Eldorado Resorts (NASDAQ:ERI) issued its quarterly earnings results on Thursday. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10), Morningstar.com reports. Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The company had revenue of $487.25 million for the quarter, compared to analyst estimates of $494.60 million. During the same period in the prior year, the business earned $0.38 earnings per share. Eldorado Resorts’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Shares of ERI stock traded down $2.17 during mid-day trading on Friday, reaching $36.72. The stock had a trading volume of 3,545,107 shares, compared to its average volume of 1,510,442. Eldorado Resorts has a 12-month low of $28.15 and a 12-month high of $50.64. The stock has a market cap of $2.92 billion, a P/E ratio of 3,672.00, a P/E/G ratio of 1.17 and a beta of 1.47. The company has a quick ratio of 2.25, a current ratio of 2.32 and a debt-to-equity ratio of 2.20.
A number of equities research analysts have commented on ERI shares. 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. BidaskClub raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Saturday, September 15th. Finally, ValuEngine raised Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.56.
Several hedge funds have recently made changes to their positions in ERI. Royal Bank of Canada increased its position in shares of Eldorado Resorts by 352.3% in the first quarter. Royal Bank of Canada now owns 14,587 shares of the company’s stock valued at $481,000 after buying an additional 11,362 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Eldorado Resorts by 9.1% in the first quarter. Allianz Asset Management GmbH now owns 44,733 shares of the company’s stock valued at $1,476,000 after buying an additional 3,732 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of Eldorado Resorts by 1.9% in the second quarter. Peregrine Capital Management LLC now owns 993,257 shares of the company’s stock valued at $38,836,000 after buying an additional 18,623 shares in the last quarter. Bank of Montreal Can increased its position in shares of Eldorado Resorts by 282.7% in the second quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock valued at $130,000 after buying an additional 2,468 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Eldorado Resorts in the second quarter valued at $185,000. Institutional investors and hedge funds own 88.48% of the company’s stock.
Eldorado Resorts Company Profile
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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