Eldorado Resorts (NASDAQ:ERI) issued its quarterly earnings data on Thursday. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10), Morningstar.com reports. The company had revenue of $487.25 million during the quarter, compared to the consensus estimate of $494.60 million. Eldorado Resorts had a net margin of 9.99% and a return on equity of 11.64%. Eldorado Resorts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS.
Shares of ERI stock traded down $2.17 during trading hours on Friday, hitting $36.72. 3,545,107 shares of the company’s stock traded hands, compared to its average volume of 1,510,442. The company has a market capitalization of $2.92 billion, a P/E ratio of 3,672.00, a PEG ratio of 1.17 and a beta of 1.47. Eldorado Resorts has a 12 month low of $28.15 and a 12 month high of $50.64. The company has a debt-to-equity ratio of 2.20, a quick ratio of 2.25 and a current ratio of 2.32.
Several equities analysts recently commented on ERI shares. Jefferies Financial Group set a $57.00 price objective on shares of Eldorado Resorts and gave the company a “buy” rating in a research note on Friday, October 5th. BidaskClub raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. JPMorgan Chase & Co. set a $60.00 price objective on shares of Eldorado Resorts and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Eldorado Resorts has an average rating of “Buy” and an average target price of $51.56.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Eldorado Resorts by 282.7% during the second quarter. Bank of Montreal Can now owns 3,341 shares of the company’s stock worth $130,000 after buying an additional 2,468 shares during the period. Strs Ohio acquired a new stake in shares of Eldorado Resorts during the second quarter worth $156,000. FNY Investment Advisers LLC acquired a new stake in shares of Eldorado Resorts during the second quarter worth $185,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eldorado Resorts during the third quarter worth $252,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Eldorado Resorts during the third quarter worth $298,000. 88.48% of the stock is owned by hedge funds and other institutional investors.
About Eldorado Resorts
Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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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