Equities analysts predict that Red Rock Resorts Inc (NASDAQ:RRR) will post sales of $405.63 million for the current quarter, according to Zacks. Three analysts have issued estimates for Red Rock Resorts’ earnings, with the highest sales estimate coming in at $409.90 million and the lowest estimate coming in at $397.90 million. Red Rock Resorts posted sales of $403.49 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The business is scheduled to report its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Red Rock Resorts will report full year sales of $1.64 billion for the current financial year, with estimates ranging from $1.63 billion to $1.65 billion. For the next fiscal year, analysts expect that the business will report sales of $1.71 billion per share, with estimates ranging from $1.71 billion to $1.73 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 27th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Red Rock Resorts had a return on equity of 16.46% and a net margin of 4.11%. The company had revenue of $394.02 million for the quarter, compared to analyst estimates of $406.75 million.
A number of equities analysts have recently commented on the company. Nomura assumed coverage on Red Rock Resorts in a research note on Tuesday, May 8th. They issued a “buy” rating and a $39.00 price objective on the stock. Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Citigroup dropped their price objective on Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. BidaskClub upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Finally, Macquarie lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Red Rock Resorts presently has an average rating of “Hold” and a consensus target price of $34.00.
Shares of Red Rock Resorts stock traded up $0.07 during trading on Tuesday, reaching $34.15. The company’s stock had a trading volume of 401 shares, compared to its average volume of 776,374. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.04 and a current ratio of 1.09. The firm has a market capitalization of $3.93 billion, a PE ratio of 54.97 and a beta of 1.54. Red Rock Resorts has a one year low of $21.41 and a one year high of $35.77.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 64.52%.
A number of hedge funds have recently added to or reduced their stakes in RRR. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Red Rock Resorts by 763.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock worth $134,000 after buying an additional 3,505 shares in the last quarter. SG Americas Securities LLC grew its position in Red Rock Resorts by 86.0% during the first quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock worth $165,000 after buying an additional 2,607 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Red Rock Resorts during the first quarter worth about $198,000. Verity Asset Management Inc. acquired a new stake in Red Rock Resorts during the fourth quarter worth about $211,000. Finally, Guggenheim Capital LLC acquired a new stake in Red Rock Resorts during the fourth quarter worth about $224,000. 60.58% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.