Brokerages expect Red Rock Resorts Inc (NASDAQ:RRR) to announce $467.74 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Red Rock Resorts’ earnings, with estimates ranging from $463.00 million to $477.56 million. Red Rock Resorts reported sales of $412.33 million during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Red Rock Resorts will report full year sales of $1.87 billion for the current financial year, with estimates ranging from $1.85 billion to $1.89 billion. For the next financial year, analysts forecast that the business will report sales of $1.96 billion, with estimates ranging from $1.90 billion to $2.01 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The firm had revenue of $482.90 million during the quarter, compared to the consensus estimate of $441.48 million. Red Rock Resorts had a net margin of 1.75% and a return on equity of 8.09%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS.
Several equities research analysts have commented on the company. Nomura cut their target price on Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Deutsche Bank set a $24.00 target price on Red Rock Resorts and gave the company a “buy” rating in a research note on Monday, August 12th. ValuEngine raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Stifel Nicolaus set a $22.00 price target on Red Rock Resorts and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research started coverage on Red Rock Resorts in a research report on Friday, June 14th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $25.86.
In other Red Rock Resorts news, Director Lorenzo J. Fertitta bought 9,540 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $19.48 per share, with a total value of $185,839.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank J. Fertitta III bought 10,170 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average cost of $19.50 per share, for a total transaction of $198,315.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,377,509 shares of company stock worth $25,641,396 in the last ninety days. Insiders own 40.19% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. LPL Financial LLC increased its holdings 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 acquiring an additional 797 shares during the last quarter. Swiss National Bank grew its holdings in Red Rock Resorts by 2.1% in the 2nd quarter. Swiss National Bank now owns 129,700 shares of the company’s stock valued at $2,786,000 after buying an additional 2,700 shares in the last quarter. Verition Fund Management LLC grew its holdings in Red Rock Resorts by 24.7% in the 2nd quarter. Verition Fund Management LLC now owns 18,700 shares of the company’s stock valued at $402,000 after buying an additional 3,700 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Red Rock Resorts by 9.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 56,962 shares of the company’s stock valued at $1,224,000 after buying an additional 4,999 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Red Rock Resorts by 1,067.9% in the 2nd quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock valued at $138,000 after buying an additional 5,863 shares in the last quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ RRR traded up $0.77 during trading on Friday, hitting $20.95. The stock had a trading volume of 13,741 shares, compared to its average volume of 668,157. The company has a market capitalization of $2.33 billion, a PE ratio of 16.01 and a beta of 2.07. The company’s 50-day moving average price is $20.75 and its two-hundred day moving average price is $22.58. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.83 and a current ratio of 0.89. Red Rock Resorts has a 12 month low of $16.76 and a 12 month high of $29.80.
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, September 12th. Red Rock Resorts’s dividend payout ratio (DPR) is 30.53%.
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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