Eldorado Resorts (NASDAQ:ERI) Downgraded by BidaskClub

BidaskClub cut shares of Eldorado Resorts (NASDAQ:ERI) from a hold rating to a sell rating in a report issued on Tuesday morning, BidAskClub reports.

Several other research analysts have also commented on ERI. ValuEngine lowered Eldorado Resorts from a buy rating to a hold rating in a report on Thursday, September 26th. TheStreet lowered Eldorado Resorts from a b rating to a c+ rating in a report on Friday, September 6th. Zacks Investment Research lowered Eldorado Resorts from a hold rating to a strong sell rating in a report on Tuesday, July 23rd. Wolfe Research upgraded Eldorado Resorts from a peer perform rating to an outperform rating and set a $46.12 price target on the stock in a report on Tuesday, June 25th. Finally, Stifel Nicolaus set a $58.00 price objective on shares of Eldorado Resorts and gave the company a buy rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $53.90.

Shares of NASDAQ ERI traded down $0.21 during trading on Tuesday, hitting $39.10. 1,368,337 shares of the company were exchanged, compared to its average volume of 1,255,455. Eldorado Resorts has a 12-month low of $31.86 and a 12-month 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. The company has a fifty day moving average price of $40.04 and a 200-day moving average price of $45.83. The firm has a market capitalization of $3.04 billion, a PE ratio of 28.33, a P/E/G ratio of 1.16 and a beta of 1.51.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 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 firm earned $0.47 EPS. The firm’s revenue was up 39.5% on a year-over-year basis. Research analysts anticipate that Eldorado Resorts will post 1.73 earnings per share for the current fiscal year.

In related news, Director James B. Hawkins acquired 2,000 shares of Eldorado Resorts 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James B. Hawkins acquired 6,000 shares of Eldorado Resorts stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $40.35 per share, for a total transaction of $242,100.00. Following the completion of the acquisition, the director now owns 119,137 shares in the company, valued at approximately $4,807,177.95. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Eldorado Resorts by 24.3% in the 2nd quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after acquiring an additional 1,789,647 shares in the last quarter. Vanguard Group Inc. grew its position in Eldorado Resorts by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,552,414 shares of the company’s stock valued at $255,800,000 after acquiring an additional 41,669 shares in the last quarter. HG Vora Capital Management LLC acquired a new position in Eldorado Resorts in the 2nd quarter valued at about $207,315,000. Park West Asset Management LLC grew its position in Eldorado Resorts by 24.9% in the 2nd quarter. Park West Asset Management LLC now owns 3,154,116 shares of the company’s stock valued at $145,310,000 after acquiring an additional 629,116 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Eldorado Resorts by 9.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,964,722 shares of the company’s stock valued at $91,733,000 after acquiring an additional 163,078 shares in the last quarter. 99.02% of the stock is 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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