Analysts Set Eldorado Resorts Inc (NASDAQ:ERI) PT at $56.02

Eldorado Resorts Inc (NASDAQ:ERI) has been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.02.

Several brokerages have recently issued reports on ERI. Deutsche Bank raised their target price on Eldorado Resorts from $56.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Wolfe Research raised Eldorado Resorts from a “peer perform” rating to an “outperform” rating and set a $46.12 target price for the company in a research report on Tuesday, June 25th. BidaskClub lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. ValuEngine lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus began coverage on Eldorado Resorts in a research report on Wednesday, June 5th. They set a “buy” rating and a $62.00 target price for the company.

Shares of Eldorado Resorts stock traded down $1.26 during trading hours on Thursday, hitting $40.45. 3,583,563 shares of the company’s stock traded hands, compared to its average volume of 1,192,082. Eldorado Resorts has a 12-month low of $31.86 and a 12-month high of $54.99. The stock has a market capitalization of $3.34 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.46. The stock’s fifty day moving average is $46.72. The company has a debt-to-equity ratio of 3.78, a current ratio of 0.98 and a quick ratio of 0.93.

Eldorado Resorts (NASDAQ:ERI) last announced 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 net margin of 5.00% and a return on equity of 11.41%. The business had revenue of $637.10 million for the quarter, compared to analysts’ expectations of $658.74 million. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Sell-side analysts anticipate that Eldorado Resorts will post 2.09 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ERI. OppenheimerFunds Inc. boosted its stake in Eldorado Resorts by 4,099.9% in the 1st quarter. OppenheimerFunds Inc. now owns 490,544 shares of the company’s stock worth $22,904,000 after purchasing an additional 478,864 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Eldorado Resorts by 59.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,054,364 shares of the company’s stock valued at $49,228,000 after acquiring an additional 392,033 shares during the last quarter. Norges Bank bought a new stake in shares of Eldorado Resorts during the 4th quarter valued at about $12,463,000. Victory Capital Management Inc. boosted its position in shares of Eldorado Resorts by 31.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,394,605 shares of the company’s stock valued at $65,114,000 after acquiring an additional 331,995 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Eldorado Resorts by 9.1% during 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 during the last quarter. Institutional investors and hedge funds own 85.75% of the company’s stock.

Eldorado Resorts Company Profile

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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