Eldorado Resorts, Inc. (ERI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Eldorado Resorts, Inc. (NASDAQ:ERI) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “

A number of other research analysts also recently commented on the stock. BidaskClub downgraded shares of Eldorado Resorts from a strong-buy rating to a buy rating in a research note on Saturday, June 17th. J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a research note on Thursday, July 20th. They set an overweight rating and a $24.00 price objective on the stock. Finally, Deutsche Bank AG started coverage on shares of Eldorado Resorts in a research note on Monday, September 25th. They set a buy rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $27.33.

Shares of Eldorado Resorts (ERI) opened at 26.10 on Tuesday. Eldorado Resorts has a 52 week low of $10.65 and a 52 week high of $27.15. The company’s 50-day moving average is $24.64 and its 200 day moving average is $21.29.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $354.15 million. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities research analysts expect that Eldorado Resorts will post ($0.29) EPS for the current year.

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Several institutional investors have recently bought and sold shares of ERI. Renaissance Technologies LLC lifted its position in shares of Eldorado Resorts by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock worth $48,390,000 after buying an additional 1,624,021 shares during the last quarter. FMR LLC lifted its position in shares of Eldorado Resorts by 75.0% in the 2nd 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 last quarter. Principal Financial Group Inc. lifted its position in shares of Eldorado Resorts by 11,003.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock worth $23,294,000 after buying an additional 1,154,190 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Eldorado Resorts by 78.3% in 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. Finally, Westfield Capital Management Co. LP lifted its position in shares of Eldorado Resorts by 41.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock worth $42,956,000 after buying an additional 625,911 shares during the last quarter. Institutional investors own 69.44% of the company’s stock.

About Eldorado Resorts

Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilitie

According to Zacks, “Eldorado Resorts, Inc. is a casino entertainment company. It provides casino and entertainment services primarily in Nevada and Louisiana, United States. The Company’s facilities and services include casino games; hotels; entertainment and events; signature and casual restaurants; various venues; and guest services. Its casino also provides facilities for meetings and special events; catering and banquet services; and golf, ski, Reno bowling, baseball, basecamp climbing, truckee river, Reno fernley raceway, and museum services. Eldorado Resorts, Inc. is based in Reno, Nevada. “

A number of other research analysts also recently commented on the stock. BidaskClub downgraded shares of Eldorado Resorts from a strong-buy rating to a buy rating in a research note on Saturday, June 17th. J P Morgan Chase & Co started coverage on shares of Eldorado Resorts in a research note on Thursday, July 20th. They set an overweight rating and a $24.00 price objective on the stock. Finally, Deutsche Bank AG started coverage on shares of Eldorado Resorts in a research note on Monday, September 25th. They set a buy rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $27.33.

Shares of Eldorado Resorts (ERI) opened at 26.10 on Tuesday. Eldorado Resorts has a 52 week low of $10.65 and a 52 week high of $27.15. The company’s 50-day moving average is $24.64 and its 200 day moving average is $21.29.

Eldorado Resorts (NASDAQ:ERI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $354.15 million. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. Equities research analysts expect that Eldorado Resorts will post ($0.29) EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/11/eldorado-resorts-inc-eri-upgraded-to-hold-by-zacks-investment-research.html.

Several institutional investors have recently bought and sold shares of ERI. Renaissance Technologies LLC lifted its position in shares of Eldorado Resorts by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,419,521 shares of the company’s stock worth $48,390,000 after buying an additional 1,624,021 shares during the last quarter. FMR LLC lifted its position in shares of Eldorado Resorts by 75.0% in the 2nd 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 last quarter. Principal Financial Group Inc. lifted its position in shares of Eldorado Resorts by 11,003.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,164,679 shares of the company’s stock worth $23,294,000 after buying an additional 1,154,190 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Eldorado Resorts by 78.3% in 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. Finally, Westfield Capital Management Co. LP lifted its position in shares of Eldorado Resorts by 41.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,147,812 shares of the company’s stock worth $42,956,000 after buying an additional 625,911 shares during the last quarter. Institutional investors own 69.44% of the company’s stock.

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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