BidaskClub Upgrades Eldorado Resorts, Inc. (ERI) to Strong-Buy
Eldorado Resorts, Inc. (NASDAQ:ERI) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.
Several other research analysts have also recently weighed in on ERI. TheStreet raised Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 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 price objective on the stock. Finally, Zacks Investment Research cut Eldorado Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $25.00.
Shares of Eldorado Resorts (NASDAQ:ERI) opened at 24.80 on Thursday. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $25.35. The company’s 50 day moving average is $22.63 and its 200 day moving average is $20.33.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data 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). Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The business had revenue of $355.20 million during the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, equities research analysts forecast that Eldorado Resorts will post ($0.29) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ERI. Bank of New York Mellon Corp boosted its position in Eldorado Resorts by 82.6% in the first quarter. Bank of New York Mellon Corp now owns 393,181 shares of the company’s stock worth $7,441,000 after purchasing an additional 177,902 shares during the last quarter. Sei Investments Co. purchased a new position in Eldorado Resorts in the first quarter worth $578,000. Parametric Portfolio Associates LLC boosted its position in Eldorado Resorts by 50.7% in the first quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock worth $1,425,000 after purchasing an additional 25,325 shares during the last quarter. Trexquant Investment LP purchased a new position in Eldorado Resorts in the first quarter worth $457,000. Finally, Airain ltd purchased a new position in Eldorado Resorts in the first quarter worth $625,000. 69.44% of the stock is currently owned by institutional investors and hedge funds.
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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