Eldorado Resorts (ERI) Cut to Buy at BidaskClub

BidaskClub downgraded shares of Eldorado Resorts (NASDAQ:ERI) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other brokerages have also recently weighed in on ERI. SunTrust Banks restated an average rating and issued a $36.00 price objective on shares of Eldorado Resorts in a research note on Monday, February 5th. Jefferies Group assumed coverage on shares of Eldorado Resorts in a research note on Thursday, January 18th. They issued a buy rating and a $40.00 price objective for the company. Zacks Investment Research cut shares of Eldorado Resorts from a buy rating to a hold rating in a research note on Friday, December 1st. JPMorgan Chase & Co. boosted their price objective on shares of Eldorado Resorts from $29.00 to $31.00 and gave the stock an overweight rating in a research note on Wednesday, November 15th. Finally, TheStreet upgraded shares of Eldorado Resorts from a c rating to a b- rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $32.83.

Shares of Eldorado Resorts (ERI) opened at $33.55 on Wednesday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.78 and a quick ratio of 1.71. The stock has a market cap of $2,492.96, a P/E ratio of -124.26 and a beta of 0.95. Eldorado Resorts has a one year low of $15.90 and a one year high of $35.30.

Several institutional investors have recently modified their holdings of ERI. Ladenburg Thalmann Financial Services Inc. increased its position in Eldorado Resorts by 117.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock worth $109,000 after acquiring an additional 1,775 shares during the period. California Public Employees Retirement System increased its position in Eldorado Resorts by 1.2% during the fourth quarter. California Public Employees Retirement System now owns 151,521 shares of the company’s stock worth $5,023,000 after acquiring an additional 1,800 shares during the period. American International Group Inc. increased its position in Eldorado Resorts by 8.1% during the third quarter. American International Group Inc. now owns 30,925 shares of the company’s stock worth $793,000 after acquiring an additional 2,312 shares during the period. Swiss National Bank increased its position in Eldorado Resorts by 3.2% during the fourth quarter. Swiss National Bank now owns 84,944 shares of the company’s stock worth $2,816,000 after acquiring an additional 2,600 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Eldorado Resorts by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 527,940 shares of the company’s stock worth $13,542,000 after acquiring an additional 5,048 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

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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.

Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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