Eldorado Resorts Inc (NASDAQ:ERI) – Equities research analysts at SunTrust Banks reduced their Q2 2019 earnings estimates for Eldorado Resorts in a research note issued to investors on Wednesday, February 27th, Zacks Investment Research reports. SunTrust Banks analyst B. Jonas now expects that the company will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.68.
Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Wednesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.35). The firm had revenue of $671.76 million for the quarter, compared to analyst estimates of $678.34 million. Eldorado Resorts had a return on equity of 10.75% and a net margin of 4.63%. The firm’s quarterly revenue was up 56.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS.
A number of other analysts also recently issued reports on ERI. Jefferies Financial Group set a $57.00 price target on shares of Eldorado Resorts and gave the stock a “buy” rating in a report on Monday, November 26th. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Wednesday, November 28th. ValuEngine upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a report on Wednesday, November 28th. Zacks Investment Research downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Eldorado Resorts and gave the stock a “buy” rating in a report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.27.
Shares of NASDAQ ERI opened at $46.50 on Friday. The company has a market cap of $3.59 billion, a PE ratio of 33.70, a PEG ratio of 0.99 and a beta of 1.78. The company has a debt-to-equity ratio of 4.10, a current ratio of 1.43 and a quick ratio of 1.37. Eldorado Resorts has a 1 year low of $31.25 and a 1 year high of $50.97.
A number of institutional investors have recently bought and sold shares of ERI. Bank of New York Mellon Corp increased its holdings in Eldorado Resorts by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 463,303 shares of the company’s stock valued at $18,115,000 after purchasing an additional 40,379 shares during the last quarter. Texas Permanent School Fund acquired a new stake in Eldorado Resorts in the 3rd quarter valued at approximately $1,957,000. Retirement Systems of Alabama purchased a new position in Eldorado Resorts in the 3rd quarter valued at approximately $4,079,000. First Trust Advisors LP boosted its position in Eldorado Resorts by 69.7% in the 3rd quarter. First Trust Advisors LP now owns 140,224 shares of the company’s stock valued at $6,815,000 after buying an additional 57,614 shares during the period. Finally, State Treasurer State of Michigan purchased a new position in Eldorado Resorts in the 3rd quarter valued at approximately $1,166,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
About Eldorado Resorts
Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room hotel, casino, entertainment, and live thoroughbred horse racing facility; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility; and Eldorado Gaming Scioto Downs, a modern racino.
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