Shares of Eldorado Resorts Inc (NASDAQ:ERI) dropped 5.4% during trading on Friday . The stock traded as low as $37.86 and last traded at $37.88, approximately 1,910,735 shares traded hands during mid-day trading. An increase of 59% from the average daily volume of 1,198,801 shares. The stock had previously closed at $40.04.
ERI has been the topic of several research reports. Susquehanna Bancshares initiated coverage on shares of Eldorado Resorts in a research report on Wednesday, July 24th. They issued a “neutral” rating and a $50.00 price objective on the stock. Wolfe Research raised shares of Eldorado Resorts from a “peer perform” rating to an “outperform” rating and set a $46.12 price objective on the stock in a research report on Tuesday, June 25th. Zacks Investment Research lowered shares of Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 23rd. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Finally, Deutsche Bank lifted their price objective on shares of Eldorado Resorts from $56.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Eldorado Resorts has a consensus rating of “Hold” and an average target price of $54.79.
The firm has a market cap of $3.11 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.46. The company has a quick ratio of 1.78, a current ratio of 1.83 and a debt-to-equity ratio of 3.67. The firm’s 50-day simple moving average is $43.68 and its 200 day simple moving average is $47.25.
Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.25). Eldorado Resorts had a net margin of 3.90% and a return on equity of 9.47%. The business had revenue of $637.10 million during the quarter, compared to the consensus estimate of $658.74 million. During the same period last year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, analysts forecast that Eldorado Resorts Inc will post 1.76 earnings per share for the current year.
In other Eldorado Resorts news, Director James B. Hawkins purchased 6,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $40.35 per share, with a total value of $242,100.00. Following the completion of the transaction, the director now directly owns 119,137 shares in the company, valued at approximately $4,807,177.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new position in Eldorado Resorts during the first quarter valued at approximately $28,000. Dorsey Wright & Associates grew its stake in Eldorado Resorts by 33.3% during the second quarter. Dorsey Wright & Associates now owns 920 shares of the company’s stock valued at $42,000 after acquiring an additional 230 shares in the last quarter. NEXT Financial Group Inc grew its stake in Eldorado Resorts by 1,824.3% during the second quarter. NEXT Financial Group Inc now owns 1,424 shares of the company’s stock valued at $65,000 after acquiring an additional 1,350 shares in the last quarter. Marshall Wace LLP purchased a new position in Eldorado Resorts during the first quarter valued at approximately $69,000. Finally, Centaurus Financial Inc. grew its stake in Eldorado Resorts by 17.2% during the first quarter. Centaurus Financial Inc. now owns 3,884 shares of the company’s stock valued at $83,000 after acquiring an additional 569 shares in the last quarter. 86.69% of the stock is currently owned by institutional investors.
Eldorado Resorts Company Profile (NASDAQ:ERI)
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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