Eldorado Resorts (NASDAQ:ERI) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Eldorado Resorts (NASDAQ:ERI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus set a $58.00 price objective on Eldorado Resorts and gave the stock a buy rating in a research report on Wednesday, August 7th. Wolfe Research upgraded Eldorado Resorts from a peer perform rating to an outperform rating and set a $46.12 price objective on the stock in a research report on Tuesday, June 25th. BidaskClub downgraded Eldorado Resorts from a hold rating to a sell rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded Eldorado Resorts from a hold rating to a strong sell rating in a research report on Tuesday, July 23rd. Finally, TheStreet downgraded Eldorado Resorts from a b rating to a c+ rating in a research report on Friday, September 6th. One investment 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. The stock presently has a consensus rating of Buy and an average price target of $53.90.

Shares of NASDAQ:ERI traded up $0.31 during trading on Wednesday, hitting $42.91. 1,339,350 shares of the company were exchanged, compared to its average volume of 1,239,459. The company has a market cap of $3.26 billion, a PE ratio of 31.09, a P/E/G ratio of 1.14 and a beta of 1.51. The stock has a 50 day moving average of $40.77 and a 200 day moving average of $46.46. Eldorado Resorts has a 52-week low of $31.86 and a 52-week high of $54.99. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.83 and a quick ratio of 1.78.



Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a return on equity of 9.47% and a net margin of 3.90%. The company had revenue of $637.10 million for the quarter, compared to analysts’ expectations of $658.74 million. During the same quarter in the prior year, the company earned $0.47 EPS. The company’s revenue was up 39.5% on a year-over-year basis. Sell-side analysts forecast that Eldorado Resorts will post 1.74 EPS for the current fiscal year.

In other news, Director James B. Hawkins purchased 6,000 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $40.35 per share, for a total transaction of $242,100.00. Following the completion of the transaction, the director now directly owns 119,137 shares of the company’s stock, valued at approximately $4,807,177.95. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James B. Hawkins purchased 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $35.70 per share, for a total transaction of $71,400.00. Following the transaction, the director now directly owns 125,137 shares of the company’s stock, 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.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC bought a new position in shares of Eldorado Resorts during the first quarter valued at about $28,000. Dorsey Wright & Associates grew its stake in shares of Eldorado Resorts by 33.3% during the second quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock valued at $42,000 after buying an additional 230 shares during the last quarter. NEXT Financial Group Inc grew its stake in shares of Eldorado Resorts by 1,824.3% in the second quarter. NEXT Financial Group Inc now owns 1,424 shares of the company’s stock worth $65,000 after purchasing an additional 1,350 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Eldorado Resorts in the first quarter worth about $69,000. Finally, Point72 Hong Kong Ltd grew its stake in shares of Eldorado Resorts by 9,365.6% in the second quarter. Point72 Hong Kong Ltd now owns 3,029 shares of the company’s stock worth $140,000 after purchasing an additional 2,997 shares during the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

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.

Further Reading: Quiet Period Expirations Explained

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Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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