Eldorado Resorts, Inc. (ERI) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other brokerages have also weighed in on ERI. Zacks Investment Research lowered Eldorado Resorts from a hold rating to a sell rating in a report on Friday, August 11th. J P Morgan Chase & Co assumed coverage on Eldorado Resorts in a report on Thursday, July 20th. They issued an overweight rating and a $24.00 price objective for the company. TheStreet raised Eldorado Resorts from a d+ rating to a c rating in a report on Wednesday, May 17th. Finally, Imperial Capital boosted their price objective on Eldorado Resorts from $24.00 to $26.00 and gave the company an outperform rating in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Eldorado Resorts has a consensus rating of Buy and a consensus target price of $22.33.

Shares of Eldorado Resorts (NASDAQ ERI) opened at 22.30 on Tuesday. Eldorado Resorts has a 12-month low of $10.65 and a 12-month high of $23.50. The company has a 50 day moving average price of $20.57 and a 200 day moving average price of $19.29.

Eldorado Resorts (NASDAQ:ERI) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of $0.25 by $0.95. Eldorado Resorts had a negative net margin of 3.38% and a negative return on equity of 8.03%. The company had revenue of $355.20 million during the quarter, compared to analysts’ expectations of $354.15 million. Eldorado Resorts’s revenue was up 53.6% compared to the same quarter last year. On average, equities analysts expect that Eldorado Resorts will post ($0.29) earnings per share for the current year.

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In other Eldorado Resorts news, major shareholder Hotel Casino Management, Inc. sold 750,000 shares of Eldorado Resorts stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $20.66, for a total value of $15,495,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Reeg bought 2,500 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was bought at an average price of $20.03 per share, with a total value of $50,075.00. Following the completion of the purchase, the insider now owns 46,200 shares of the company’s stock, valued at $925,386. The disclosure for this purchase can be found here. Insiders own 1.18% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its position in shares of Eldorado Resorts by 58,900.0% in the second quarter. Citigroup Inc. now owns 5,900 shares of the company’s stock valued at $118,000 after buying an additional 5,890 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Eldorado Resorts during the first quarter worth $140,000. BNP Paribas Arbitrage SA increased its stake in Eldorado Resorts by 8,127.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,734 shares of the company’s stock worth $155,000 after buying an additional 7,640 shares during the period. Victory Capital Management Inc. increased its stake in Eldorado Resorts by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,062 shares of the company’s stock worth $161,000 after buying an additional 1,209 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Eldorado Resorts during the second quarter worth $174,000. Institutional investors own 65.18% 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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