Deutsche Bank Reaffirms Buy Rating for Eldorado Resorts (NASDAQ:ERI)

Deutsche Bank reissued their buy rating on shares of Eldorado Resorts (NASDAQ:ERI) in a research note released on Wednesday, AnalystRatings.com reports. They currently have a $66.00 target price on the stock.

ERI has been the topic of a number of other research reports. Wolfe Research upgraded shares of Eldorado Resorts from a peer perform rating to an outperform rating and set a $46.12 price objective on the stock in a research note on Tuesday, June 25th. Stifel Nicolaus set a $58.00 price objective on shares of Eldorado Resorts and gave the company a buy rating in a research note on Wednesday, August 7th. BidaskClub upgraded shares of Eldorado Resorts from a sell rating to a hold rating in a research note on Monday, October 7th. ValuEngine lowered shares of Eldorado Resorts from a buy rating to a hold rating in a research note on Thursday, September 26th. Finally, Susquehanna Bancshares initiated coverage on shares of Eldorado Resorts in a research note on Wednesday, July 24th. They issued a neutral rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $53.90.

ERI stock traded up $0.14 during midday trading on Wednesday, reaching $43.04. 801,230 shares of the company’s stock traded hands, compared to its average volume of 1,578,879. The company has a market capitalization of $3.34 billion, a P/E ratio of 33.52, a PEG ratio of 1.26 and a beta of 1.51. 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 has a fifty-two week low of $31.86 and a fifty-two week high of $54.99. The business has a 50-day moving average price of $40.59 and a two-hundred day moving average price of $45.35.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.25). The business had revenue of $637.10 million for 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 quarterly revenue was up 39.5% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, research analysts forecast that Eldorado Resorts will post 1.71 earnings per share for the current fiscal year.

In other Eldorado Resorts news, Director James B. Hawkins bought 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $35.70 per share, for a total transaction of $71,400.00. Following the completion of the purchase, the director now directly owns 125,137 shares in the company, valued at $4,467,390.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Hawkins bought 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, with a total value of $242,100.00. Following the purchase, the director now owns 119,137 shares of the company’s stock, valued at $4,807,177.95. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dorsey Wright & Associates lifted its holdings in Eldorado Resorts by 33.3% in the second quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock worth $42,000 after purchasing an additional 230 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Eldorado Resorts by 7.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,652 shares of the company’s stock worth $221,000 after purchasing an additional 304 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Eldorado Resorts by 59.3% in the third quarter. Nisa Investment Advisors LLC now owns 860 shares of the company’s stock worth $34,000 after purchasing an additional 320 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Eldorado Resorts by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 26,383 shares of the company’s stock worth $1,215,000 after purchasing an additional 372 shares during the period. Finally, Aperio Group LLC lifted its holdings in Eldorado Resorts by 7.7% in the second quarter. Aperio Group LLC now owns 5,747 shares of the company’s stock worth $265,000 after purchasing an additional 409 shares during the period. 99.04% 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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