Zacks: Brokerages Expect Eldorado Resorts Inc (ERI) Will Announce Earnings of $0.64 Per Share

Wall Street analysts expect Eldorado Resorts Inc (NASDAQ:ERI) to report earnings per share (EPS) of $0.64 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Eldorado Resorts’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.68. Eldorado Resorts reported earnings of $0.36 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 77.8%. The firm is expected to report its next earnings results on Thursday, November 1st.

On average, analysts expect that Eldorado Resorts will report full year earnings of $1.74 per share for the current financial year, with EPS estimates ranging from $1.64 to $1.85. For the next fiscal year, analysts forecast that the company will post earnings of $2.45 per share, with EPS estimates ranging from $1.83 to $3.04. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.05). Eldorado Resorts had a return on equity of 11.64% and a net margin of 9.99%. The firm had revenue of $456.80 million during the quarter, compared to the consensus estimate of $461.57 million. During the same quarter in the previous year, the company earned ($0.68) EPS. The business’s revenue was up 21.6% compared to the same quarter last year.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, August 25th. Telsey Advisory Group upped their target price on shares of Eldorado Resorts from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 31st. Finally, Roth Capital upped their target price on shares of Eldorado Resorts from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $46.94.

Shares of NASDAQ ERI traded down $0.15 during trading on Monday, hitting $48.85. The stock had a trading volume of 1,386,426 shares, compared to its average volume of 1,575,052. Eldorado Resorts has a 12 month low of $23.95 and a 12 month high of $50.00. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.32 and a quick ratio of 2.25. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 4,885.00 and a beta of 1.08.

In related news, COO Anthony L. Carano purchased 1,000 shares of Eldorado Resorts stock in a transaction that occurred on Friday, September 7th. The stock was bought at an average price of $45.60 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the chief operating officer now owns 26,979 shares in the company, valued at $1,230,242.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James B. Hawkins purchased 4,000 shares of Eldorado Resorts stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $42.45 per share, with a total value of $169,800.00. Following the transaction, the director now owns 107,832 shares of the company’s stock, valued at approximately $4,577,468.40. The disclosure for this purchase can be found here. In the last quarter, insiders bought 6,000 shares of company stock valued at $261,900. Company insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ERI. Wells Fargo & Company MN grew its position in Eldorado Resorts by 651.7% during the first quarter. Wells Fargo & Company MN now owns 1,332,982 shares of the company’s stock valued at $43,989,000 after buying an additional 1,155,658 shares during the period. Trexquant Investment LP bought a new position in Eldorado Resorts during the first quarter valued at about $663,000. American Century Companies Inc. bought a new position in Eldorado Resorts during the first quarter valued at about $655,000. Virginia Retirement Systems ET AL grew its position in Eldorado Resorts by 44.9% during the first quarter. Virginia Retirement Systems ET AL now owns 25,500 shares of the company’s stock valued at $842,000 after buying an additional 7,900 shares during the period. Finally, Swiss National Bank grew its position in Eldorado Resorts by 1.8% during the first quarter. Swiss National Bank now owns 86,444 shares of the company’s stock valued at $2,853,000 after buying an additional 1,500 shares during the period. Institutional investors own 88.32% of the company’s stock.

About Eldorado Resorts

Eldorado Resorts, Inc, a gaming and hospitality company, owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, and Missouri. It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino; Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex; Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino; Mountaineer Casino, Racetrack & Resort, a 357-room 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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Earnings History and Estimates for Eldorado Resorts (NASDAQ:ERI)

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