Wall Street analysts forecast that Eldorado Resorts Inc (NASDAQ:ERI) will post $683.45 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made 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 during the same quarter last year, which would suggest a positive year-over-year growth rate of 49.6%. The company is expected to report its next quarterly 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 fiscal 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 Investment Research’s sales averages are an average based on a survey of research analysts that cover 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, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. Eldorado Resorts had a net margin of 5.00% and a return on equity of 11.41%. The company had revenue of $627.75 million during the quarter, compared to the consensus estimate of $660.92 million. During the same quarter last year, the company earned $0.27 earnings per share. Eldorado Resorts’s revenue for the quarter was down 4.4% on a year-over-year basis.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Eldorado Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. BidaskClub downgraded shares of Eldorado Resorts from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. ValuEngine raised shares of Eldorado Resorts from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Nomura raised their price target on shares of Eldorado Resorts from $38.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Finally, Jefferies Financial Group set a $58.00 price target on shares of Eldorado Resorts and gave the stock a “buy” rating in a research report on Thursday, February 28th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.43.
Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new position in Eldorado Resorts in the first quarter worth $38,000. Mascoma Wealth Management LLC bought a new stake in Eldorado Resorts in the first quarter valued at $47,000. Marshall Wace LLP bought a new stake in Eldorado Resorts in the first quarter valued at $69,000. Bank of Montreal Can lifted its stake in Eldorado Resorts by 23.9% in the fourth quarter. Bank of Montreal Can now owns 4,269 shares of the company’s stock valued at $154,000 after buying an additional 824 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Eldorado Resorts during the first quarter valued at about $199,000. 88.13% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:ERI opened at $46.44 on Friday. The company has a debt-to-equity ratio of 3.78, a current ratio of 0.98 and a quick ratio of 0.93. Eldorado Resorts has a 52-week low of $31.86 and a 52-week high of $51.67. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 0.99 and a beta of 1.73.
About Eldorado Resorts
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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