Analysts Set Eldorado Resorts Inc (ERI) Price Target at $29.50

Shares of Eldorado Resorts Inc (NASDAQ:ERI) have been given a consensus rating of “Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.50.

A number of equities research analysts have weighed in on ERI shares. BidaskClub cut shares of Eldorado Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. SunTrust Banks restated a “buy” rating and issued a $29.00 price objective on shares of Eldorado Resorts in a report on Friday, November 3rd. J P Morgan Chase & Co upped their price objective on shares of Eldorado Resorts from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. Zacks Investment Research cut shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Deutsche Bank started coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They issued a “buy” rating and a $32.00 price objective on the stock.

Shares of Eldorado Resorts (ERI) traded up $0.60 during trading hours on Friday, hitting $33.30. 874,800 shares of the stock traded hands, compared to its average volume of 720,713. 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 has a 52-week low of $14.90 and a 52-week high of $33.40.

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

In other Eldorado Resorts news, Director David P. Tomick purchased 1,700 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $28.70 per share, for a total transaction of $48,790.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at $298,480. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bonnie Biumi sold 13,079 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $29.50, for a total transaction of $385,830.50. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ERI. Victory Capital Management Inc. grew its stake in Eldorado Resorts by 17.6% during the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after acquiring an additional 1,209 shares in the last quarter. Teachers Advisors LLC grew its stake in Eldorado Resorts by 3.2% during the first quarter. Teachers Advisors LLC now owns 50,803 shares of the company’s stock valued at $961,000 after acquiring an additional 1,558 shares in the last quarter. American International Group Inc. grew its stake in Eldorado Resorts by 8.1% during the third quarter. American International Group Inc. now owns 30,925 shares of the company’s stock valued at $793,000 after acquiring an additional 2,312 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in Eldorado Resorts by 21.3% during the second quarter. Virginia Retirement Systems ET AL now owns 18,200 shares of the company’s stock valued at $364,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Eldorado Resorts by 59.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,804 shares of the company’s stock valued at $236,000 after acquiring an additional 4,396 shares in the last quarter. 81.23% of the stock is 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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