Equities analysts expect Red Rock Resorts Inc (NASDAQ:RRR) to report sales of $405.63 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Red Rock Resorts’ earnings. The highest sales estimate is $409.90 million and the lowest is $397.90 million. Red Rock Resorts posted sales of $403.49 million in the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.
On average, analysts expect that Red Rock Resorts will report full-year sales of $1.64 billion for the current year, with estimates ranging from $1.63 billion to $1.65 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.71 billion per share, with estimates ranging from $1.71 billion to $1.73 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, May 1st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Red Rock Resorts had a net margin of 4.11% and a return on equity of 16.46%. The company had revenue of $421.04 million for the quarter, compared to the consensus estimate of $411.13 million.
Several analysts have issued reports on the stock. Nomura assumed coverage on shares of Red Rock Resorts in a report on Tuesday, May 8th. They issued a “buy” rating and a $39.00 price target on the stock. BidaskClub downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, April 4th. Citigroup reduced their price target on shares of Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, May 2nd. Stifel Nicolaus downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating and upped their price target for the company from $29.00 to $37.00 in a report on Friday, February 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $34.00.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Red Rock Resorts by 763.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock valued at $134,000 after buying an additional 3,505 shares during the period. SG Americas Securities LLC lifted its stake in shares of Red Rock Resorts by 86.0% during the first quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock valued at $165,000 after buying an additional 2,607 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Red Rock Resorts during the fourth quarter valued at approximately $211,000. Guggenheim Capital LLC purchased a new position in shares of Red Rock Resorts during the fourth quarter valued at approximately $224,000. Finally, Quantbot Technologies LP purchased a new position in shares of Red Rock Resorts during the first quarter valued at approximately $198,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of Red Rock Resorts traded up $0.21, hitting $34.30, on Friday, according to Marketbeat. The company’s stock had a trading volume of 337,960 shares, compared to its average volume of 620,426. Red Rock Resorts has a 12-month low of $21.41 and a 12-month high of $35.77. The company has a market capitalization of $3.95 billion, a PE ratio of 54.98 and a beta of 1.65. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.09 and a quick ratio of 1.04.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 14th. Red Rock Resorts’s payout ratio is 64.52%.
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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