BidaskClub upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a buy rating to a strong-buy rating in a report released on Thursday morning.
A number of other brokerages have also recently commented on ERI. Zacks Investment Research cut Eldorado Resorts from a hold rating to a sell rating in a research report on Friday, August 11th. TheStreet raised Eldorado Resorts from a d+ rating to a c rating in a research report on Wednesday, May 17th. Finally, J P Morgan Chase & Co began coverage on Eldorado Resorts in a research report on Thursday, July 20th. They set an overweight rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $25.00.
Eldorado Resorts (NASDAQ:ERI) opened at 24.80 on Thursday. The firm’s 50-day moving average price is $22.63 and its 200 day moving average price is $20.33. Eldorado Resorts has a 52-week low of $10.65 and a 52-week high of $25.35.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.95). Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The firm had revenue of $355.20 million for the quarter, compared to analysts’ expectations of $354.15 million. The firm’s revenue was up 53.6% on a year-over-year basis. Analysts expect that Eldorado Resorts will post ($0.29) earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in ERI. Bank of New York Mellon Corp raised its stake in shares of Eldorado Resorts by 82.6% during the 1st quarter. Bank of New York Mellon Corp now owns 393,181 shares of the company’s stock valued at $7,441,000 after purchasing an additional 177,902 shares during the period. Sei Investments Co. bought a new stake in shares of Eldorado Resorts during the 1st quarter valued at $578,000. Parametric Portfolio Associates LLC raised its stake in shares of Eldorado Resorts by 50.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock valued at $1,425,000 after purchasing an additional 25,325 shares during the period. Trexquant Investment LP bought a new stake in shares of Eldorado Resorts during the 1st quarter valued at $457,000. Finally, Airain ltd bought a new stake in shares of Eldorado Resorts during the 1st quarter valued at $625,000. Institutional investors own 69.44% of the company’s stock.
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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