Wall Street brokerages expect that Eldorado Resorts Inc (NASDAQ:ERI) will report $682.34 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Eldorado Resorts’ earnings. The lowest sales estimate is $664.30 million and the highest is $713.70 million. Eldorado Resorts reported sales of $456.80 million in the same quarter last year, which indicates a positive year over year growth rate of 49.4%. The business is expected to report its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Eldorado Resorts will report full year sales of $2.67 billion for the current year, with estimates ranging from $2.64 billion to $2.74 billion. For the next financial year, analysts forecast that the business will post sales of $2.70 billion, with estimates ranging from $2.65 billion to $2.79 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Eldorado Resorts.
Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.10. The company had revenue of $627.75 million during the quarter, compared to the consensus estimate of $660.92 million. Eldorado Resorts had a return on equity of 11.41% and a net margin of 5.00%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share.
Several research analysts recently issued reports on ERI shares. Deutsche Bank lifted their target price on Eldorado Resorts from $56.00 to $74.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus assumed coverage on Eldorado Resorts in a research report on Wednesday, June 5th. They issued a “buy” rating and a $62.00 target price for the company. BidaskClub lowered Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research raised Eldorado Resorts from a “peer perform” rating to an “outperform” rating and set a $46.12 target price for the company in a research report on Tuesday, June 25th. Finally, Zacks Investment Research raised Eldorado Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $55.89.
ERI stock traded up $0.75 during mid-day trading on Thursday, reaching $48.39. The company’s stock had a trading volume of 2,218,679 shares, compared to its average volume of 1,093,755. The company has a market capitalization of $3.71 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 0.99 and a beta of 1.47. The business’s 50 day moving average price is $49.22. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.93 and a current ratio of 0.98. Eldorado Resorts has a 12 month low of $31.86 and a 12 month high of $54.99.
A number of hedge funds have recently bought and sold shares of ERI. Meridian Wealth Management LLC purchased a new stake in Eldorado Resorts during the 1st quarter valued at $28,000. Mascoma Wealth Management LLC purchased a new position in shares of Eldorado Resorts in the 1st quarter worth $47,000. Marshall Wace LLP purchased a new position in shares of Eldorado Resorts in the 1st quarter worth $69,000. Centaurus Financial Inc. boosted its stake in shares of Eldorado Resorts by 17.2% in the 1st quarter. Centaurus Financial Inc. now owns 3,884 shares of the company’s stock worth $83,000 after buying an additional 569 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Eldorado Resorts by 23.9% in the 4th quarter. Bank of Montreal Can now owns 4,269 shares of the company’s stock worth $154,000 after buying an additional 824 shares during the last quarter. 85.71% of the stock is owned by institutional investors.
Eldorado Resorts Company Profile
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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