Wall Street brokerages expect Red Rock Resorts Inc (NASDAQ:RRR) to post $0.11 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Red Rock Resorts’ earnings, with estimates ranging from $0.08 to $0.16. Red Rock Resorts reported earnings per share of $0.20 in the same quarter last year, which suggests a negative year over year growth rate of 45%. The company is expected to announce its next earnings report on Wednesday, November 6th.
On average, analysts expect that Red Rock Resorts will report full year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.60. For the next financial year, analysts expect that the company will post earnings of $1.07 per share, with EPS estimates ranging from $0.80 to $1.33. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Red Rock Resorts had a net margin of 1.75% and a return on equity of 8.09%. The firm had revenue of $482.90 million for the quarter, compared to the consensus estimate of $441.48 million. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis.
A number of equities analysts have weighed in on RRR shares. Nomura dropped their target price on shares of Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Stifel Nicolaus set a $22.00 target price on shares of Red Rock Resorts and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Wolfe Research started coverage on shares of Red Rock Resorts in a research note on Friday, June 14th. They issued a “peer perform” rating for the company. BidaskClub raised shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Macquarie raised shares of 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. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $25.86.
In related news, CEO Lorenzo J. Fertitta bought 75,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $14.17 per share, with a total value of $1,062,750.00. Also, Director Frank J. Fertitta III bought 555,149 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $19.30 per share, with a total value of $10,714,375.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,357,799 shares of company stock valued at $25,257,242. Insiders own 40.19% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Red Rock Resorts by 1,067.9% during the 2nd quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock worth $138,000 after buying an additional 5,863 shares during the period. Creative Planning acquired a new stake in shares of Red Rock Resorts during the 1st quarter worth approximately $222,000. NumerixS Investment Technologies Inc grew its position in shares of Red Rock Resorts by 151.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $252,000 after buying an additional 5,900 shares during the period. Zebra Capital Management LLC acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $215,000. Finally, LPL Financial LLC grew its position in shares of Red Rock Resorts by 8.6% during the 2nd quarter. LPL Financial LLC now owns 10,099 shares of the company’s stock worth $217,000 after buying an additional 797 shares during the period. Institutional investors own 63.33% of the company’s stock.
RRR stock traded up $0.29 during trading on Tuesday, hitting $22.50. 754,689 shares of the stock traded hands, compared to its average volume of 758,138. Red Rock Resorts has a one year low of $16.76 and a one year high of $29.80. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 17.18 and a beta of 2.08. The company has a 50 day simple moving average of $20.16 and a 200 day simple moving average of $23.43. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 3.62.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Thursday, September 12th. Red Rock Resorts’s dividend payout ratio is presently 30.53%.
About Red Rock Resorts
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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