Eldorado Resorts, Inc. (ERI) Reaches New 1-Year High at $23.55
Eldorado Resorts, Inc. (NASDAQ:ERI) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $23.55 and last traded at $23.55, with a volume of 311,209 shares. The stock had previously closed at $23.15.
Several research firms have recently commented on ERI. BidaskClub lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. JPMorgan Chase & Co. began 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. Zacks Investment Research upgraded Eldorado Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Finally, Imperial Capital lifted their price target on Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.00.
The stock has a 50 day moving average price of $21.50 and a 200 day moving average price of $19.80.
Eldorado Resorts (NASDAQ:ERI) last released its earnings results 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. The business had revenue of $355.20 million for the quarter, compared to analysts’ expectations 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 revenue was up 53.6% compared to the same quarter last year. On average, equities research analysts expect that Eldorado Resorts, Inc. will post ($0.29) EPS for the current fiscal year.
In related news, insider Thomas Reeg bought 2,500 shares of the stock in a transaction dated 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 completion of the purchase, the insider now owns 46,200 shares in the company, valued at $925,386. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.14% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Eldorado Resorts by 75.0% in the second quarter. FMR LLC now owns 3,389,255 shares of the company’s stock valued at $67,785,000 after buying an additional 1,452,155 shares in the last quarter. Renaissance Technologies LLC grew its stake in Eldorado Resorts by 204.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock valued at $48,390,000 after purchasing an additional 1,624,021 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Eldorado Resorts by 41.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock valued at $42,956,000 after purchasing an additional 625,911 shares in the last quarter. Vanguard Group Inc. grew its stake in Eldorado Resorts by 78.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock valued at $39,146,000 after purchasing an additional 859,537 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Eldorado Resorts by 11,003.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock valued at $23,294,000 after purchasing an additional 1,154,190 shares in the last quarter. 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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