Eldorado Resorts Inc (ERI) to Post Q1 2018 Earnings of $0.48 Per Share, SunTrust Banks Forecasts

Eldorado Resorts Inc (NASDAQ:ERI) – SunTrust Banks raised their Q1 2018 earnings per share (EPS) estimates for shares of Eldorado Resorts in a research note issued on Monday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings of $0.48 per share for the quarter, up from their previous estimate of $0.41. SunTrust Banks has a “Average” rating and a $36.00 price objective on the stock. SunTrust Banks also issued estimates for Eldorado Resorts’ Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.32 EPS and FY2019 earnings at $2.12 EPS.

Several other equities analysts have also weighed in on ERI. BidaskClub lowered shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. TheStreet upgraded shares of Eldorado Resorts from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Eldorado Resorts from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, November 15th. Finally, Jefferies Group started coverage on shares of Eldorado Resorts in a research report on Thursday, January 18th. They set a “buy” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.83.

Eldorado Resorts (ERI) traded down $0.30 during trading on Tuesday, reaching $33.60. 29,352 shares of the company’s stock traded hands, compared to its average volume of 639,216. Eldorado Resorts has a 52-week low of $15.40 and a 52-week high of $35.30. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.71 and a current ratio of 1.78.

Several institutional investors and hedge funds have recently made changes to their positions in ERI. FMR LLC boosted its holdings in shares of Eldorado Resorts by 75.0% in the second quarter. FMR LLC now owns 3,389,255 shares of the company’s stock worth $67,785,000 after buying an additional 1,452,155 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eldorado Resorts during the 3rd quarter worth approximately $26,211,000. Hood River Capital Management LLC acquired a new stake in shares of Eldorado Resorts during the 3rd quarter worth approximately $25,562,000. Peregrine Capital Management LLC increased its holdings in shares of Eldorado Resorts by 130.0% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,584,460 shares of the company’s stock worth $40,641,000 after buying an additional 895,489 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Eldorado Resorts by 78.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,957,282 shares of the company’s stock worth $39,146,000 after buying an additional 859,537 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

In other news, Director Bonnie Biumi sold 13,079 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $29.50, for a total transaction of $385,830.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

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About Eldorado Resorts

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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