Eldorado Resorts (NASDAQ:ERI) Lifted to Buy at ValuEngine

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

Other equities research analysts have also issued research reports about the stock. Deutsche Bank increased their price objective on shares of Eldorado Resorts from $56.00 to $74.00 and gave the stock a buy rating in a report on Monday, July 1st. Zacks Investment Research lowered shares of Eldorado Resorts from a hold rating to a strong sell rating in a report on Tuesday, July 23rd. Susquehanna Bancshares initiated coverage on shares of Eldorado Resorts in a report on Wednesday, July 24th. They set a neutral rating and a $50.00 price objective on the stock. Stifel Nicolaus set a $58.00 price objective on shares of Eldorado Resorts and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, Wolfe Research raised 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 report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $54.79.

ERI opened at $39.27 on Friday. The stock has a 50-day moving average price of $45.09. The company has a current ratio of 0.98, a quick ratio of 0.93 and a debt-to-equity ratio of 3.78. Eldorado Resorts has a twelve month low of $31.86 and a twelve month high of $54.99. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a return on equity of 9.57% and a net margin of 3.90%. The firm had revenue of $637.10 million during the quarter, compared to the consensus estimate of $658.74 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts predict that Eldorado Resorts will post 1.76 EPS for the current fiscal year.

In other Eldorado Resorts news, Director James B. Hawkins bought 6,000 shares of Eldorado Resorts stock in a transaction dated Thursday, August 8th. The shares were bought 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ERI. Frontier Capital Management Co. LLC raised its position in shares of Eldorado Resorts by 1.4% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,717,064 shares of the company’s stock valued at $172,893,000 after acquiring an additional 49,705 shares during the period. Wells Fargo & Company MN raised its position in shares of 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 during the period. Victory Capital Management Inc. raised its position in shares of Eldorado Resorts by 31.2% in 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 period. Westfield Capital Management Co. LP raised its position in shares of Eldorado Resorts by 59.2% in 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 period. Finally, Geode Capital Management LLC raised its position in shares of Eldorado Resorts by 9.2% in the 4th quarter. Geode Capital Management LLC now owns 726,208 shares of the company’s stock valued at $26,295,000 after acquiring an additional 61,482 shares during the period. 84.55% 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.

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Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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