Eldorado Resorts Inc (NASDAQ:ERI) Expected to Earn Q2 2019 Earnings of $0.46 Per Share

Eldorado Resorts Inc (NASDAQ:ERI) – Research analysts at Jefferies Financial Group cut their Q2 2019 earnings per share estimates for shares of Eldorado Resorts in a research report issued to clients and investors on Tuesday, July 9th. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.65. Jefferies Financial Group also issued estimates for Eldorado Resorts’ FY2019 earnings at $2.11 EPS.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. Stifel Nicolaus reduced their target price on MacroGenics from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. 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. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. Finally, BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Eldorado Resorts has a consensus rating of “Buy” and a consensus price target of $55.89.

Shares of ERI stock opened at $45.56 on Thursday. The firm has a fifty day simple moving average of $49.22. The firm has a market cap of $3.67 billion, a P/E ratio of 33.01, a PEG ratio of 1.08 and a beta of 1.46. 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 3.78, a quick ratio of 0.93 and a current ratio of 0.98.

Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 2nd. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.10. The firm had revenue of $627.75 million for the quarter, compared to the consensus estimate of $660.92 million. Eldorado Resorts had a return on equity of 11.41% and a net margin of 5.00%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERI. Meridian Wealth Management LLC acquired a new position in Eldorado Resorts during the 1st quarter worth about $28,000. Dorsey Wright & Associates lifted its holdings in Eldorado Resorts by 33.3% during 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 period. Mascoma Wealth Management LLC acquired a new position in Eldorado Resorts during the 1st quarter worth about $47,000. Marshall Wace LLP acquired a new position in Eldorado Resorts during the 1st quarter worth about $69,000. Finally, Centaurus Financial Inc. lifted its holdings in Eldorado Resorts by 17.2% during the 1st quarter. Centaurus Financial Inc. now owns 3,884 shares of the company’s stock worth $83,000 after buying an additional 569 shares during the period. 85.71% 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.

See Also: Moving Average – How it Helps Investors in Stock Selection

Earnings History and Estimates for Eldorado Resorts (NASDAQ:ERI)

Receive News & Ratings for Eldorado Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Resorts and related companies with MarketBeat.com's FREE daily email newsletter.