Eldorado Resorts (ERI) Cut to “Hold” at BidaskClub

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Eldorado Resorts (NASDAQ:ERI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other research firms have also recently weighed in on ERI. Jefferies Financial Group set a $58.00 price target on shares of Eldorado Resorts and gave the stock a “buy” rating in a research note on Thursday, February 28th. Nomura upped their price target on shares of Eldorado Resorts from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th. Roth Capital reaffirmed a “buy” rating on shares of Eldorado Resorts in a research note on Thursday, February 28th. Deutsche Bank reaffirmed a “buy” rating and set a $56.00 price target on shares of Eldorado Resorts in a research note on Thursday, February 28th. Finally, ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $51.27.

NASDAQ:ERI opened at $46.39 on Friday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 1.37 and a current ratio of 1.43. Eldorado Resorts has a fifty-two week low of $31.25 and a fifty-two week high of $50.97. The firm has a market cap of $3.60 billion, a PE ratio of 33.62, a P/E/G ratio of 0.99 and a beta of 1.78.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.35). Eldorado Resorts had a return on equity of 10.75% and a net margin of 4.63%. The company had revenue of $671.76 million for the quarter, compared to analyst estimates of $678.34 million. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 56.3% compared to the same quarter last year. As a group, equities research analysts expect that Eldorado Resorts will post 2.36 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ERI. Bank of New York Mellon Corp lifted its position in shares of Eldorado Resorts by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 463,303 shares of the company’s stock worth $18,115,000 after acquiring an additional 40,379 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Eldorado Resorts by 69.7% during the third quarter. First Trust Advisors LP now owns 140,224 shares of the company’s stock worth $6,815,000 after acquiring an additional 57,614 shares in the last quarter. Comerica Bank lifted its position in shares of Eldorado Resorts by 133.1% during the third quarter. Comerica Bank now owns 68,190 shares of the company’s stock worth $2,730,000 after acquiring an additional 38,932 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Eldorado Resorts by 17.6% during the third quarter. Wells Fargo & Company MN now owns 1,528,144 shares of the company’s stock worth $74,268,000 after acquiring an additional 228,429 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Eldorado Resorts during the third quarter worth $310,000. 88.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Ex-Dividend

Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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