Eldorado Resorts, Inc. (ERI) Expected to Announce Quarterly Sales of $410.35 Million

Bruno Cirelli
Luglio 21, 2017

(NASDAQ:ERI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,507 shares of the company's stock, valued at approximately $312,000.

Several hedge funds have recently added to or reduced their stakes in ERI. FMR LLC acquired a new stake in Eldorado Resorts during the fourth quarter worth approximately $9,162,000. State Board of Administration of Florida Retirement System now owns 34,784 shares of the company's stock valued at $590,000 after buying an additional 111 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Eldorado Resorts by 22.7% in the first quarter. American International Group Inc. now owns 17,642 shares of the company's stock valued at $334,000 after buying an additional 1,170 shares in the last quarter.

UBS Group AG boosted its position in shares of Eldorado Resorts by 246.3% in the first quarter. Tudor Investment Corp Et Al purchased a new position in Eldorado Resorts during the fourth quarter valued at about $364,000. Eldorado Resorts has a 52-week low of $10.65 and a 52-week high of $21.83. (ERI) traded up 4.04% during trading on Thursday, reaching $20.60. The stock has a 50 day moving average of $20.62 and a 200-day moving average of $18.23. The firm has a market capitalization of $1.56 billion, a PE ratio of 43.92 and a beta of 1.01.

Eldorado Resorts (ERI) opened at 19.40 on Friday. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.20 by $0.16. The firm had revenue of $200.90 million for the quarter, compared to analyst estimates of $209.75 million. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The company's revenue was down 5.9% compared to the same quarter previous year. During the same period a year ago, the business earned $0.07 EPS. In the last earnings report the EPS was $0.47 and is expected to be $0.67 for the current year with 75,673,000 shares outstanding. American International Group Inc. raised its position in Eldorado Resorts by 7.1% in the first quarter.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another website, it was illegally stolen and republished in violation of United States & worldwide copyright & trademark laws. For the next year, analysts anticipate that the business will report earnings of $1.31 per share. 426834 shares were traded on Eldorado Resorts, Inc.'s last session. The bumped up target indicates a possible upside of 0.21% based on the company's most recent stock price close. Finally, BidaskClub cut Eldorado Resorts from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 17th. Imperial Capital reaffirmed an "outperform" rating and issued a $26.00 target price (up from $24.00) on shares of Eldorado Resorts in a report on Friday, May 5th. TheStreet raised Eldorado Resorts from a "d+" rating to a "c" rating in a report on Wednesday, May 17th. Zacks Investment Research raised Eldorado Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, May 8th.

08/19/2016 - SunTrust began new coverage on Eldorado Resorts, Inc. giving the company a " rating. The company now has a consensus rating of "Buy" and a consensus price target of $22.33.

University of MI professor and noted insider trading researcher, Nejat Seyhun, discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the following year while when they sold shares, the stock underperformed 5.4% over the same period. The shares were sold at an average price of $20.51, for a total value of $427,920.64. The shares were bought at an average price of $20.03 per share, with a total value of $50,075.00. Following the completion of the purchase, the insider now owns 46,200 shares in the company, valued at approximately $925,386. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

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