Eldorado Resorts (NASDAQ:ERI) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Eldorado Resorts (NASDAQ:ERI) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on ERI. ValuEngine raised Eldorado Resorts from a hold rating to a buy rating in a report on Wednesday, September 11th. Wolfe Research raised Eldorado Resorts from a peer perform rating to an outperform rating and set a $46.12 target price on the stock in a report on Tuesday, June 25th. Susquehanna Bancshares initiated coverage on Eldorado Resorts in a report on Wednesday, July 24th. They issued a neutral rating and a $50.00 target price on the stock. TheStreet downgraded Eldorado Resorts from a b rating to a c+ rating in a report on Friday, September 6th. Finally, Stifel Nicolaus set a $58.00 target price on Eldorado Resorts and gave the company a buy rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $53.90.

Shares of ERI stock opened at $43.25 on Thursday. The stock’s fifty day moving average price is $40.74 and its two-hundred day moving average price is $46.43. The company has a market cap of $3.34 billion, a PE ratio of 33.52, a P/E/G ratio of 1.23 and a beta of 1.51. Eldorado Resorts has a fifty-two week low of $31.86 and a fifty-two week high of $54.99. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.78 and a current ratio of 1.83.

Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.25). The business had revenue of $637.10 million during the quarter, compared to analyst estimates of $658.74 million. Eldorado Resorts had a net margin of 3.90% and a return on equity of 9.47%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. On average, equities analysts predict that Eldorado Resorts will post 1.74 EPS for the current fiscal year.

In other news, Director James B. Hawkins acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $40.35 per share, with a total value of $242,100.00. Following the acquisition, the director now directly owns 119,137 shares in the company, valued at approximately $4,807,177.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James B. Hawkins acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $35.70 per share, for a total transaction of $71,400.00. Following the acquisition, the director now owns 125,137 shares in the company, valued at $4,467,390.90. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates boosted its stake in shares of Eldorado Resorts by 33.3% in the 2nd quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock worth $42,000 after buying an additional 230 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Eldorado Resorts by 7.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,652 shares of the company’s stock valued at $221,000 after acquiring an additional 304 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Eldorado Resorts by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,383 shares of the company’s stock valued at $1,215,000 after acquiring an additional 372 shares during the period. Aperio Group LLC raised its holdings in Eldorado Resorts by 7.7% during the 2nd quarter. Aperio Group LLC now owns 5,747 shares of the company’s stock valued at $265,000 after acquiring an additional 409 shares during the period. Finally, United Services Automobile Association raised its holdings in Eldorado Resorts by 3.9% during the 2nd quarter. United Services Automobile Association now owns 12,166 shares of the company’s stock valued at $560,000 after acquiring an additional 457 shares during the period. 99.02% of the stock is currently owned by institutional investors.

About Eldorado Resorts

Eldorado Resorts, Inc operates as a gaming and hospitality company in the United States. It owns and operates Eldorado Resort Casino Reno, a hotel, casino, and entertainment facility; Silver Legacy Resort Casino, a themed hotel and casino; Circus Circus Reno, a hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 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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