Zacks: Analysts Anticipate Eldorado Resorts Inc (ERI) to Announce $0.52 EPS

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Wall Street analysts expect that Eldorado Resorts Inc (NASDAQ:ERI) will report $0.52 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Eldorado Resorts’ earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.55. Eldorado Resorts posted earnings per share of ($0.70) in the same quarter last year, which indicates a positive year over year growth rate of 174.3%. The company is expected to issue its next quarterly earnings results on Tuesday, August 14th.

On average, analysts expect that Eldorado Resorts will report full-year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.69 to $1.88. For the next fiscal year, analysts anticipate that the company will post earnings of $2.26 per share, with EPS estimates ranging from $1.88 to $2.59. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). Eldorado Resorts had a net margin of 5.62% and a return on equity of 2.81%. The company had revenue of $440.19 million for the quarter, compared to analyst estimates of $446.15 million. During the same quarter in the prior year, the company posted $0.02 EPS. Eldorado Resorts’s revenue for the quarter was down 1.9% on a year-over-year basis.

Several brokerages have recently weighed in on ERI. Roth Capital upped their price objective on shares of Eldorado Resorts from $42.00 to $49.00 and gave the company a “buy” rating in a report on Monday, April 16th. Telsey Advisory Group upped their target price on shares of Eldorado Resorts from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, April 17th. Deutsche Bank upped their target price on shares of Eldorado Resorts from $38.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, April 17th. BidaskClub lowered shares of Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 7th. Finally, Zacks Investment Research lowered shares of Eldorado Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.94.

Shares of NASDAQ ERI traded up $0.85 during trading on Tuesday, hitting $41.05. 9,779 shares of the company traded hands, compared to its average volume of 939,925. Eldorado Resorts has a fifty-two week low of $18.80 and a fifty-two week high of $46.45. The firm has a market capitalization of $3.05 billion, a P/E ratio of 4,060.00 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 2.12 and a debt-to-equity ratio of 2.28.

In other news, Director Roger P. Wagner sold 6,612 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $43.00, for a total transaction of $284,316.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edmund L. Quatmann, Jr. sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $42.95, for a total transaction of $859,000.00. Following the transaction, the insider now directly owns 132,917 shares of the company’s stock, valued at $5,708,785.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,612 shares of company stock valued at $1,805,616. Company insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Eldorado Resorts by 117.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,287 shares of the company’s stock valued at $109,000 after acquiring an additional 1,775 shares during the period. Amalgamated Bank bought a new position in Eldorado Resorts in the 4th quarter worth approximately $211,000. Bluestein R H & Co. bought a new position in Eldorado Resorts in the 1st quarter worth approximately $254,000. Sapphire Star Partners LP bought a new position in Eldorado Resorts in the 4th quarter worth approximately $366,000. Finally, Quantitative Systematic Strategies LLC boosted its holdings in Eldorado Resorts by 74.8% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 11,768 shares of the company’s stock worth $388,000 after buying an additional 5,034 shares during the period. 87.14% of the stock is owned by hedge funds and other institutional investors.

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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