Eldorado Resorts, Inc. (ERI) Expected to Announce Earnings of $0.21 Per Share

Equities analysts expect Eldorado Resorts, Inc. (NASDAQ:ERI) to report earnings per share of $0.21 for the current quarter, Zacks reports. Two analysts have provided estimates for Eldorado Resorts’ earnings. Eldorado Resorts posted earnings per share of $0.23 during the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The company is scheduled to issue its next quarterly earnings report on Thursday, August 3rd.

On average, analysts expect that Eldorado Resorts will report full-year earnings of $0.66 per share for the current financial year. For the next year, analysts forecast that the firm will post earnings of $1.31 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Eldorado Resorts.

Eldorado Resorts (NASDAQ:ERI) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.16. Eldorado Resorts had a net margin of 2.49% and a return on equity of 7.95%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $209.75 million. During the same period in the prior year, the firm earned $0.07 EPS. Eldorado Resorts’s revenue for the quarter was down 5.9% compared to the same quarter last year.

A number of equities research analysts have recently commented on ERI shares. TheStreet raised shares of Eldorado Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. Zacks Investment Research raised shares of Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $24.00 price objective (up previously from $21.00) on shares of Eldorado Resorts in a research note on Monday, March 13th.

Shares of Eldorado Resorts (NASDAQ ERI) traded down 0.98% during trading on Tuesday, reaching $20.25. 827,391 shares of the company’s stock traded hands. The company has a 50 day moving average price of $20.49 and a 200-day moving average price of $17.92. Eldorado Resorts has a one year low of $10.65 and a one year high of $21.83. The stock has a market cap of $1.53 billion, a P/E ratio of 43.18 and a beta of 1.00.

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In related news, major shareholder Hotel Casino Management, Inc. sold 20,864 shares of Eldorado Resorts stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.51, for a total value of $427,920.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ERI. FMR LLC boosted its stake in Eldorado Resorts by 258.4% in the first quarter. FMR LLC now owns 1,937,100 shares of the company’s stock worth $36,660,000 after buying an additional 1,396,588 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Eldorado Resorts during the fourth quarter worth about $6,671,000. RWC Asset Management LLP boosted its stake in Eldorado Resorts by 85.0% in the first quarter. RWC Asset Management LLP now owns 822,888 shares of the company’s stock worth $15,573,000 after buying an additional 378,024 shares in the last quarter. J. Goldman & Co LP bought a new stake in Eldorado Resorts during the fourth quarter worth about $5,610,000. Finally, Westfield Capital Management Co. LP boosted its stake in Eldorado Resorts by 23.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,521,901 shares of the company’s stock worth $28,802,000 after buying an additional 286,205 shares in the last quarter. 65.18% of the stock is currently owned by hedge funds and other institutional investors.

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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