Eldorado Resorts Inc (ERI) Sets New 1-Year High at $23.55
Eldorado Resorts Inc (NASDAQ:ERI) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $23.55 and last traded at $23.55, with a volume of 311,209 shares changing hands. The stock had previously closed at $23.15.
ERI has been the topic of a number of recent analyst reports. Imperial Capital upped their price objective on Eldorado Resorts from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, May 15th. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a report on Wednesday, May 17th. BidaskClub lowered Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. J P Morgan Chase & Co initiated coverage on Eldorado Resorts in a research report on Thursday, July 20th. They issued an “overweight” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.00.
The stock’s 50 day moving average price is $21.82 and its 200 day moving average price is $19.96.
Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.95. Eldorado Resorts had a negative return on equity of 33.67% and a negative net margin of 13.31%. The firm had revenue of $355.20 million for the quarter, compared to analysts’ expectations of $354.15 million. The firm’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities analysts anticipate that Eldorado Resorts Inc will post ($0.29) earnings per share for the current fiscal year.
In other news, insider Thomas Reeg purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average price of $20.03 per share, with a total value of $50,075.00. Following the purchase, the insider now directly owns 46,200 shares of the company’s stock, valued at approximately $925,386. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.14% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ERI. Lord Abbett & CO. LLC bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $6,888,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $210,000. 1st Global Advisors Inc. bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $775,000. Verition Fund Management LLC bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $296,000. Finally, Sterling Capital Management LLC bought a new stake in shares of Eldorado Resorts in the 2nd quarter worth about $302,000. 69.44% of the stock is currently owned by hedge funds and other institutional investors.
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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