Eldorado Resorts (NASDAQ:ERI) Price Target Raised to $31.00

Eldorado Resorts (NASDAQ:ERI) had its target price hoisted by J P Morgan Chase & Co from $29.00 to $31.00 in a report issued on Wednesday, November 15th. The brokerage currently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 1.31% from the company’s current price.

Several other equities research analysts have also recently weighed in on ERI. BidaskClub upgraded Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Deutsche Bank initiated coverage on Eldorado Resorts in a report on Monday, September 25th. They set a “buy” rating and a $32.00 price objective for the company. Finally, SunTrust Banks reissued a “buy” rating and set a $22.00 price objective on shares of Eldorado Resorts in a report on Tuesday, October 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Eldorado Resorts presently has an average rating of “Buy” and an average target price of $30.00.

Shares of Eldorado Resorts (ERI) opened at $30.60 on Wednesday. Eldorado Resorts has a 52 week low of $14.85 and a 52 week high of $30.90. The company has a current ratio of 1.78, a quick ratio of 1.71 and a debt-to-equity ratio of 2.60.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Eldorado Resorts had a negative return on equity of 2.83% and a negative net margin of 1.20%. The business had revenue of $444.87 million for the quarter, compared to analysts’ expectations of $448.30 million. During the same period in the previous year, the business posted $0.20 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. analysts anticipate that Eldorado Resorts will post -0.08 earnings per share for the current year.

In other Eldorado Resorts news, Director Bonnie Biumi sold 13,079 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $29.50, for a total value of $385,830.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Tomick acquired 1,700 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $28.70 per share, with a total value of $48,790.00. Following the acquisition, the director now owns 10,400 shares of the company’s stock, valued at approximately $298,480. The disclosure for this purchase can be found here. 1.18% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERI. Parametric Portfolio Associates LLC grew its stake in shares of 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 acquiring an additional 25,325 shares during the last quarter. American International Group Inc. grew its stake in shares of Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock worth $334,000 after acquiring an additional 1,170 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Eldorado Resorts by 3.2% in the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock worth $961,000 after acquiring an additional 1,558 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Eldorado Resorts by 12.7% in the first quarter. Vanguard Group Inc. now owns 1,097,745 shares of the company’s stock worth $20,774,000 after acquiring an additional 123,700 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Eldorado Resorts by 5.3% in the first quarter. Geode Capital Management LLC now owns 194,984 shares of the company’s stock worth $3,690,000 after acquiring an additional 9,761 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

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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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