Eldorado Resorts (ERI) Issues Quarterly Earnings Results, Misses Estimates By $0.10 EPS

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.

In other Eldorado Resorts news, COO Anthony L. Carano purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was purchased at an average price of $45.60 per share, with a total value of $45,600.00. Following the completion of the purchase, the chief operating officer now owns 26,979 shares of the company’s stock, valued at $1,230,242.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

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.

ILLEGAL ACTIVITY NOTICE: “Eldorado Resorts (ERI) Issues Quarterly Earnings Results, Misses Estimates By $0.10 EPS” was originally posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://www.wkrb13.com/2018/11/10/eldorado-resorts-eri-issues-quarterly-earnings-results-misses-estimates-by-0-10-eps.html.

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.

Featured Story: Put Option

Earnings History for Eldorado Resorts (NASDAQ:ERI)

Receive News & Ratings for Eldorado Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply