Zacks Investment Research upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “
A number of other equities research analysts have also recently commented on the company. BidaskClub cut Eldorado Resorts from a strong-buy rating to a buy rating in a research note on Tuesday, September 26th. Deutsche Bank AG assumed coverage on Eldorado Resorts in a research note on Monday, September 25th. They set a buy rating and a $32.00 target price on the stock. Finally, J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a research note on Thursday, July 20th. They set an overweight rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.33.
Eldorado Resorts (NASDAQ:ERI) last released its earnings results on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.95). The business had revenue of $355.20 million for the quarter, compared to the consensus estimate of $354.15 million. Eldorado Resorts had a negative return on equity of 8.03% and a negative net margin of 3.38%. The company’s revenue for the quarter was up 53.6% on a year-over-year basis.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in Eldorado Resorts by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock worth $48,390,000 after acquiring an additional 1,624,021 shares during the last quarter. FMR LLC increased its holdings in Eldorado Resorts by 75.0% in the 2nd quarter. FMR LLC now owns 3,389,255 shares of the company’s stock worth $67,785,000 after acquiring an additional 1,452,155 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Eldorado Resorts by 11,003.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock worth $23,294,000 after acquiring an additional 1,154,190 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eldorado Resorts by 78.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock worth $39,146,000 after acquiring an additional 859,537 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Eldorado Resorts by 41.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock worth $42,956,000 after acquiring an additional 625,911 shares during the last quarter. Institutional investors own 69.44% of the company’s stock.
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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