Brokerages expect Red Rock Resorts Inc (NASDAQ:RRR) to post sales of $443.44 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Red Rock Resorts’ earnings. The lowest sales estimate is $434.01 million and the highest is $452.00 million. Red Rock Resorts posted sales of $416.19 million in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, August 6th.
On average, analysts expect that Red Rock Resorts will report full year sales of $1.80 billion for the current fiscal year, with estimates ranging from $1.76 billion to $1.81 billion. For the next year, analysts anticipate that the company will report sales of $1.91 billion, with estimates ranging from $1.83 billion to $1.96 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.16). Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $445.50 million. During the same period in the prior year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis.
A number of equities research analysts recently weighed in on RRR shares. BidaskClub cut Red Rock Resorts from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 24th. Zacks Investment Research raised Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Deutsche Bank reaffirmed a “buy” rating and set a $31.00 price target on shares of Red Rock Resorts in a report on Wednesday, May 1st. ValuEngine raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Macquarie raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $29.00 target price for the company in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.67.
In other news, insider Joseph J. Hasson sold 12,891 shares of Red Rock Resorts stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $23.24, for a total value of $299,586.84. Following the completion of the sale, the insider now directly owns 12,891 shares of the company’s stock, valued at approximately $299,586.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.19% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of RRR. Bank of New York Mellon Corp increased its stake in shares of Red Rock Resorts by 17.4% during the fourth quarter. Bank of New York Mellon Corp now owns 533,719 shares of the company’s stock worth $10,839,000 after buying an additional 79,099 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Red Rock Resorts by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 671,700 shares of the company’s stock worth $13,642,000 after buying an additional 15,763 shares during the period. Geode Capital Management LLC increased its stake in shares of Red Rock Resorts by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 758,541 shares of the company’s stock worth $15,405,000 after buying an additional 53,258 shares during the period. Bank of America Corp DE increased its stake in shares of Red Rock Resorts by 9.3% during the fourth quarter. Bank of America Corp DE now owns 197,087 shares of the company’s stock worth $4,003,000 after buying an additional 16,710 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Red Rock Resorts by 382.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 23,278 shares of the company’s stock worth $473,000 after buying an additional 18,453 shares during the period. Institutional investors and hedge funds own 61.81% of the company’s stock.
RRR stock traded down $0.38 during midday trading on Monday, reaching $19.45. 864,551 shares of the company’s stock traded hands, compared to its average volume of 484,308. The business has a 50-day moving average of $21.74. Red Rock Resorts has a 1-year low of $18.78 and a 1-year high of $33.61. The stock has a market cap of $2.43 billion, a P/E ratio of 14.85 and a beta of 2.11. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 3.52.
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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