Eldorado Resorts (ERI) Upgraded at BidaskClub

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BidaskClub upgraded shares of Eldorado Resorts (NASDAQ:ERI) from a buy rating to a strong-buy rating in a report released on Friday morning.

A number of other brokerages have also weighed in on ERI. Jefferies Financial Group set a $57.00 price target on shares of Eldorado Resorts and gave the company a buy rating in a research note on Friday, October 5th. Roth Capital lifted their price target on shares of Eldorado Resorts from $60.00 to $65.00 and gave the company a buy rating in a research note on Tuesday, November 13th. ValuEngine raised shares of Eldorado Resorts from a hold rating to a buy rating in a research note on Wednesday, November 28th. Zacks Investment Research raised shares of Eldorado Resorts from a hold rating to a buy rating and set a $39.00 price target on the stock in a research note on Wednesday, November 14th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Eldorado Resorts and gave the company a buy rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $51.49.

Shares of ERI opened at $42.85 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.57 and a current ratio of 1.63. Eldorado Resorts has a twelve month low of $29.16 and a twelve month high of $50.64. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 4,285.00, a P/E/G ratio of 0.63 and a beta of 1.66.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). Eldorado Resorts had a net margin of 10.21% and a return on equity of 12.38%. The company had revenue of $487.25 million during the quarter, compared to the consensus estimate of $494.60 million. During the same period in the previous year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that Eldorado Resorts will post 1.87 earnings per share for the current year.

In related news, Director Michael E. Pegram acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $339,100.00. Following the completion of the acquisition, the director now directly owns 100,529 shares in the company, valued at $3,408,938.39. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David P. Tomick acquired 700 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was bought at an average price of $43.83 per share, for a total transaction of $30,681.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 13,700 shares of company stock worth $470,881. 1.50% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Eldorado Resorts by 70.8% in the third quarter. BlackRock Inc. now owns 7,239,083 shares of the company’s stock valued at $351,819,000 after acquiring an additional 3,001,643 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Eldorado Resorts by 308.9% in the third quarter. Frontier Capital Management Co. LLC now owns 2,569,788 shares of the company’s stock valued at $124,509,000 after acquiring an additional 1,941,282 shares in the last quarter. Millennium Management LLC grew its stake in shares of Eldorado Resorts by 39.2% in the second quarter. Millennium Management LLC now owns 1,825,582 shares of the company’s stock valued at $71,380,000 after acquiring an additional 513,742 shares in the last quarter. FMR LLC grew its stake in shares of Eldorado Resorts by 4.8% in the second quarter. FMR LLC now owns 10,419,822 shares of the company’s stock valued at $407,415,000 after acquiring an additional 475,601 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Eldorado Resorts by 945.5% in the third quarter. Neuberger Berman Group LLC now owns 386,338 shares of the company’s stock valued at $18,776,000 after acquiring an additional 349,384 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Eldorado Resorts Company Profile

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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Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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