Brokerages expect Eldorado Resorts, Inc. (NASDAQ:ERI) to post earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Eldorado Resorts’ earnings. Eldorado Resorts posted earnings per share of $0.23 during the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The business is scheduled to announce its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Eldorado Resorts will report full year earnings of $0.66 per share for the current fiscal year. For the next fiscal year, analysts expect that the company will report earnings of $1.31 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $200.90 million for the quarter, compared to the consensus estimate of $209.75 million. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share.
Several brokerages have recently weighed in on ERI. BidaskClub cut shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. TheStreet upgraded shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Imperial Capital lifted their price target on shares of Eldorado Resorts from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.50.
In other news, insider Thomas Reeg bought 2,500 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the purchase, the insider now owns 46,200 shares in the company, valued at $925,386. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of Eldorado Resorts stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.51, for a total transaction of $427,920.64. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERI. Alambic Investment Management L.P. boosted its position in Eldorado Resorts by 0.9% in the first quarter. Alambic Investment Management L.P. now owns 45,000 shares of the company’s stock worth $852,000 after buying an additional 400 shares during the period. RWC Asset Management LLP boosted its position in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock worth $15,573,000 after buying an additional 378,024 shares during the period. Airain ltd purchased a new position in Eldorado Resorts during the first quarter worth $625,000. Trexquant Investment LP purchased a new position in Eldorado Resorts during the first quarter worth $457,000. Finally, Parametric Portfolio Associates LLC boosted its position in Eldorado Resorts by 50.7% in the first quarter. Parametric Portfolio Associates LLC now owns 75,284 shares of the company’s stock worth $1,425,000 after buying an additional 25,325 shares during the period. Institutional investors own 65.18% of the company’s stock.
Shares of Eldorado Resorts (NASDAQ ERI) traded down 0.387% during mid-day trading on Friday, reaching $19.325. The company’s stock had a trading volume of 80,914 shares. The company has a market cap of $1.46 billion, a P/E ratio of 41.205 and a beta of 1.01. The company has a 50-day moving average of $20.62 and a 200-day moving average of $18.23. Eldorado Resorts has a 12 month low of $10.65 and a 12 month high of $21.83.
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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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