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Eldorado Resorts (NASDAQ:ERI) Downgraded by BidaskClub

Last updated on Tuesday, July 21, 2020 | 2020 MarketBeat

Eldorado Resorts (NASDAQ:ERI) was downgraded by investment analysts at BidaskClub from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Nomura lifted their price target on shares of Eldorado Resorts from $12.50 to $34.00 in a report on Tuesday, June 2nd. Deutsche Bank reaffirmed a "buy" rating and set a $57.00 target price on shares of Eldorado Resorts in a report on Wednesday, July 15th. Morgan Stanley increased their price target on Eldorado Resorts from $23.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday. SunTrust Banks raised their price objective on Eldorado Resorts from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, ValuEngine raised Eldorado Resorts from a "hold" rating to a "buy" rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of "Buy" and an average target price of $46.60.

NASDAQ:ERI opened at $38.24 on Tuesday. The stock's 50-day moving average is $39.80 and its 200-day moving average is $38.12. Eldorado Resorts has a 1-year low of $6.02 and a 1-year high of $70.74. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 4.10. The stock has a market cap of $3.77 billion, a P/E ratio of -22.36 and a beta of 2.80.

Eldorado Resorts (NASDAQ:ERI) last posted its earnings results on Monday, May 11th. The company reported ($2.25) EPS for the quarter, missing the consensus estimate of $0.12 by ($2.37). Eldorado Resorts had a positive return on equity of 7.93% and a negative net margin of 5.62%. The business had revenue of $473.07 million for the quarter, compared to analyst estimates of $542.45 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm's quarterly revenue was down 25.6% on a year-over-year basis. As a group, equities analysts forecast that Eldorado Resorts will post -5.34 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of Eldorado Resorts by 198.9% during the 2nd quarter. SG Americas Securities LLC now owns 103,071 shares of the company's stock valued at $4,129,000 after acquiring an additional 68,589 shares during the period. Frontier Capital Management Co. LLC increased its stake in Eldorado Resorts by 14.4% in the second quarter. Frontier Capital Management Co. LLC now owns 4,626,301 shares of the company's stock valued at $185,330,000 after purchasing an additional 581,174 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Eldorado Resorts during the second quarter valued at about $2,647,000. AdvisorShares Investments LLC bought a new position in shares of Eldorado Resorts during the 2nd quarter worth about $1,022,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of Eldorado Resorts by 31.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the company's stock worth $833,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 83.61% of the company's stock.

Eldorado Resorts Company Profile

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.

See Also: Net Margin

Analyst Recommendations for Eldorado Resorts (NASDAQ:ERI)

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