Eldorado Resorts Inc (NASDAQ:ERI) Given Consensus Recommendation of “Buy” by Analysts

Eldorado Resorts Inc (NASDAQ:ERI) has received an average rating of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $57.89.

A number of equities analysts have commented on the stock. Deutsche Bank reiterated a “buy” rating and issued a $66.00 target price on shares of Eldorado Resorts in a report on Wednesday, October 16th. TheStreet upgraded shares of Eldorado Resorts from a “c+” rating to a “b” rating in a report on Monday, December 9th. Morgan Stanley boosted their target price on shares of Eldorado Resorts from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. BidaskClub upgraded shares of Eldorado Resorts from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Finally, Zacks Investment Research lowered Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 7th.

Eldorado Resorts stock traded up $1.17 during trading hours on Thursday, reaching $59.12. The stock had a trading volume of 984,021 shares, compared to its average volume of 1,489,619. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 1.42 and a beta of 1.60. The company has a debt-to-equity ratio of 3.68, a current ratio of 2.32 and a quick ratio of 2.28. The business’s 50 day moving average price is $58.45 and its 200-day moving average price is $47.84. Eldorado Resorts has a 52 week low of $35.41 and a 52 week high of $61.55.

Eldorado Resorts (NASDAQ:ERI) last announced its earnings results on Wednesday, November 6th. The company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). The firm had revenue of $663.20 million during the quarter, compared to the consensus estimate of $674.72 million. Eldorado Resorts had a return on equity of 8.99% and a net margin of 3.61%. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, sell-side analysts forecast that Eldorado Resorts will post 1.45 EPS for the current fiscal year.

In other Eldorado Resorts news, Director Roger P. Wagner sold 24,305 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $53.64, for a total transaction of $1,303,720.20. Following the completion of the transaction, the director now directly owns 18,445 shares of the company’s stock, valued at approximately $989,389.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephanie Lepori sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $51.32, for a total value of $256,600.00. Following the transaction, the insider now directly owns 17,599 shares of the company’s stock, valued at $903,180.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Eldorado Resorts by 24.3% during the 2nd quarter. BlackRock Inc. now owns 9,153,908 shares of the company’s stock valued at $421,721,000 after purchasing an additional 1,789,647 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eldorado Resorts by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,552,414 shares of the company’s stock valued at $255,800,000 after purchasing an additional 41,669 shares in the last quarter. Canyon Capital Advisors LLC boosted its stake in shares of Eldorado Resorts by 1,399.4% during the 3rd quarter. Canyon Capital Advisors LLC now owns 5,129,705 shares of the company’s stock worth $204,521,000 after acquiring an additional 4,787,591 shares in the last quarter. HG Vora Capital Management LLC bought a new stake in shares of Eldorado Resorts during the 2nd quarter worth $207,315,000. Finally, Invesco Ltd. boosted its stake in shares of Eldorado Resorts by 53.3% during the 2nd quarter. Invesco Ltd. now owns 1,307,443 shares of the company’s stock worth $60,234,000 after acquiring an additional 454,691 shares in the last quarter. 94.58% of the stock is owned by hedge funds and other 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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