Equities research analysts expect that Red Rock Resorts Inc (NASDAQ:RRR) will report earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Red Rock Resorts’ earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.43. Red Rock Resorts reported earnings of $0.41 per share during the same quarter last year, which would indicate a negative year over year growth rate of 17.1%. The business is expected to report its next quarterly earnings results on Tuesday, May 7th.
On average, analysts expect that Red Rock Resorts will report full year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $0.85 to $1.50. For the next year, analysts anticipate that the business will report earnings of $1.56 per share, with EPS estimates ranging from $1.08 to $1.94. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 12th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $431.47 million for the quarter, compared to the consensus estimate of $408.61 million. Red Rock Resorts had a return on equity of 12.06% and a net margin of 9.37%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS.
RRR has been the topic of a number of research reports. Nomura boosted their price objective on Red Rock Resorts to $32.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. BidaskClub upgraded Red Rock Resorts from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 15th. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Deutsche Bank restated a “buy” rating and set a $30.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, February 13th. Finally, Zacks Investment Research cut Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.20.
RRR opened at $25.72 on Tuesday. The company has a market cap of $3.08 billion, a PE ratio of 19.63 and a beta of 2.17. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.45. Red Rock Resorts has a 1 year low of $18.78 and a 1 year high of $36.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, March 13th. Red Rock Resorts’s dividend payout ratio is presently 30.53%.
In related news, insider Joseph J. Hasson sold 42,293 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $27.42, for a total value of $1,159,674.06. Following the sale, the insider now owns 58,921 shares of the company’s stock, valued at approximately $1,615,613.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph J. Hasson sold 31,628 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.42, for a total value of $835,611.76. Following the completion of the sale, the insider now directly owns 13,921 shares in the company, valued at approximately $367,792.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,421 shares of company stock worth $2,038,531. 0.40% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Red Rock Resorts by 12.9% in the fourth quarter. American Century Companies Inc. now owns 2,009,566 shares of the company’s stock worth $40,814,000 after purchasing an additional 230,093 shares in the last quarter. Geode Capital Management LLC boosted its stake in Red Rock Resorts by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 758,541 shares of the company’s stock worth $15,405,000 after purchasing an additional 53,258 shares in the last quarter. Norges Bank acquired a new position in Red Rock Resorts in the fourth quarter worth $14,052,000. Dimensional Fund Advisors LP boosted its stake in Red Rock Resorts by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 671,700 shares of the company’s stock worth $13,642,000 after purchasing an additional 15,763 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Red Rock Resorts by 39.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 18,626 shares of the company’s stock worth $378,000 after purchasing an additional 5,244 shares in the last quarter. 64.11% of the stock is currently owned by institutional investors and hedge funds.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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