Red Rock Resorts (NASDAQ:RRR) Releases Earnings Results, Beats Expectations By $0.18 EPS

Red Rock Resorts (NASDAQ:RRR) announced its quarterly earnings data on Tuesday. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18, Briefing.com reports. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. During the same period in the prior year, the business posted $0.75 earnings per share. Red Rock Resorts’s revenue was up 12.7% compared to the same quarter last year.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $54.36 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The company has a market capitalization of $5.72 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.81 and a beta of 2.08. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28. The stock has a 50 day moving average of $57.82 and a 200-day moving average of $52.51.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upped their price target on Red Rock Resorts from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Truist Financial boosted their price target on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Morgan Stanley lifted their target price on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and an average target price of $61.42.

Insider Buying and Selling at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the sale, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 53.28% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.