Jefferies Group Begins Coverage on Eldorado Resorts (ERI)
Research analysts at Jefferies Group initiated coverage on shares of Eldorado Resorts (NASDAQ:ERI) in a research report issued on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
A number of other equities research analysts have also recently weighed in on ERI. Deutsche Bank initiated coverage on Eldorado Resorts in a research note on Monday, September 25th. They set a “buy” rating and a $32.00 price objective for the company. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Eldorado Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. SunTrust Banks restated a “buy” rating and set a $22.00 price objective on shares of Eldorado Resorts in a research note on Tuesday, October 24th. Finally, TheStreet raised Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Eldorado Resorts currently has an average rating of “Buy” and a consensus price target of $30.00.
Shares of Eldorado Resorts (NASDAQ ERI) traded down $0.10 during mid-day trading on Thursday, hitting $32.00. The company’s stock had a trading volume of 259,400 shares, compared to its average volume of 606,891. Eldorado Resorts has a twelve month low of $14.90 and a twelve month high of $34.03. The stock has a market cap of $2,466.07, a PE ratio of -118.52 and a beta of 1.04. The company has a quick ratio of 1.71, a current ratio of 1.78 and a debt-to-equity ratio of 2.60.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $444.87 million during the quarter, compared to analysts’ expectations of $448.30 million. Eldorado Resorts had a negative return on equity of 2.83% and a negative net margin of 1.20%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. analysts forecast that Eldorado Resorts will post -0.08 EPS for the current fiscal year.
In other news, Director Bonnie Biumi sold 13,079 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $29.50, for a total value of $385,830.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David P. Tomick acquired 1,700 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $28.70 per share, for a total transaction of $48,790.00. Following the completion of the acquisition, the director now directly owns 10,400 shares of the company’s stock, valued at approximately $298,480. The disclosure for this purchase can be found here. Corporate insiders own 1.18% of the company’s stock.
Several hedge funds have recently made changes to their positions in ERI. Citigroup Inc. grew its holdings in Eldorado Resorts by 58,900.0% during the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after acquiring an additional 5,890 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Eldorado Resorts by 8,127.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after acquiring an additional 7,640 shares during the period. Victory Capital Management Inc. grew its holdings in Eldorado Resorts by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after acquiring an additional 1,209 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Eldorado Resorts during the second quarter worth about $210,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Eldorado Resorts during the second quarter worth about $212,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.
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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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