Eldorado Resorts, Inc. (ERI) Price Target Raised to $31.00 at J P Morgan Chase & Co

Eldorado Resorts, Inc. (NASDAQ:ERI) had its price target hoisted by J P Morgan Chase & Co from $29.00 to $31.00 in a research note issued to investors on Wednesday. J P Morgan Chase & Co currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Eldorado Resorts from a hold rating to a buy rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Eldorado Resorts from a hold rating to a sell rating in a report on Friday, August 11th. Deutsche Bank AG started coverage on shares of Eldorado Resorts in a report on Monday, September 25th. They issued a buy rating and a $32.00 price target on the stock. Finally, SunTrust Banks, Inc. reissued a buy rating and issued a $22.00 price target on shares of Eldorado Resorts in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $30.00.

Eldorado Resorts (NASDAQ ERI) opened at $29.20 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.71 and a debt-to-equity ratio of 2.60. Eldorado Resorts has a twelve month low of $13.00 and a twelve month high of $30.00.

Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Thursday, November 2nd. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Eldorado Resorts had a negative net margin of 1.20% and a negative return on equity of 2.83%. The company had revenue of $444.87 million for the quarter, compared to analyst estimates of $448.30 million. During the same quarter last year, the firm earned $0.20 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. equities research analysts forecast that Eldorado Resorts will post -0.08 earnings per share for the current year.

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In related news, Director David P. Tomick bought 1,700 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $28.70 per share, with a total value of $48,790.00. Following the transaction, the director now owns 10,400 shares in the company, valued at approximately $298,480. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bonnie Biumi sold 13,079 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $29.50, for a total transaction of $385,830.50. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of Eldorado Resorts by 58,900.0% in the 2nd quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock worth $118,000 after purchasing an additional 5,890 shares during the period. BNP Paribas Arbitrage SA lifted its position in Eldorado Resorts by 8,127.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock valued at $155,000 after acquiring an additional 7,640 shares during the period. Victory Capital Management Inc. lifted its position in Eldorado Resorts by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock valued at $161,000 after acquiring an additional 1,209 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Eldorado Resorts during the 2nd quarter valued at about $174,000. Finally, Fox Run Management L.L.C. purchased a new position in Eldorado Resorts during the 2nd quarter valued at about $208,000. 73.50% of the stock is owned by hedge funds and other institutional investors.

Eldorado Resorts Company Profile

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.

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