Wall Street analysts expect Red Rock Resorts, Inc. (NASDAQ: RRR – Get a rating) will report earnings of $0.53 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts released earnings estimates for Red Rock Resorts, with the highest EPS estimate of $0.65 and the lowest estimate of $0.43. Red Rock Resorts reported earnings of $0.98 per share in the same quarter last year, indicating a negative growth rate of 45.9% year over year. The company is expected to announce its next results after the market closes on Monday, January 1.
On average, analysts expect Red Rock Resorts to report annual earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $1.78 to $2.43. For the next fiscal year, analysts expect the company to report earnings of $2.20 per share, with EPS estimates ranging from $2.00 to $2.37. Zacks EPS averages are an average based on a survey of analysts who cover Red Rock Resorts.
Red Rock Resorts (NASDAQ: RRR – Get a rating) last reported quarterly earnings data on Wednesday, February 2. The company reported earnings per share of $0.55 for the quarter, beating the Zacks consensus estimate of $0.52 by $0.03. The company posted revenue of $422.90 million for the quarter, versus analyst estimates of $409.04 million. Red Rock Resorts had a return on equity of 68.48% and a net margin of 14.95%. The company’s revenue for the quarter increased by 23.2% compared to the same quarter last year. During the same quarter of the previous year, the company achieved EPS of $0.39.
Several equity research analysts have recently commented on RRR shares. Deutsche Bank Aktiengesellschaft cut its price target on Red Rock Resorts from $60.00 to $56.00 and set a “buy” rating on the stock in a Thursday, Feb. 3 research note. StockNews.com assumed coverage on Red Rock Resorts in a Thursday, March 31, research note. They issued a “buy” rating on the stock. Bank of America downgraded Red Rock Resorts from a “neutral” rating to an “underperforming” rating and reduced its target price for the company from $64.00 to $50.00 in a Monday 10 research memo. january. Finally, Macquarie downgraded Red Rock Resorts from an “outperforming” rating to a “neutral” rating and reduced its target price for the company from $60.00 to $55.00 in a Wednesday, January 26 research note. . One analyst gave the stock a sell rating, three gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.22.
Several hedge funds have recently increased or reduced their stakes in the company. Invesco Ltd. increased its stake in Red Rock Resorts by 111.2% in the third quarter. Invesco Ltd. now owns 2,157,352 shares of the company valued at $110,499,000 after purchasing an additional 1,135,704 shares last quarter. Macquarie Group Ltd. increased its stake in Red Rock Resorts by 214,261.2% in Q3. Macquarie Group Ltd. now owns 966,769 shares of the company valued at $49,517,000 after purchasing an additional 966,318 shares last quarter. Long Pond Capital LP acquired a new stake in Red Rock Resorts in Q4 valued at $42,791,000. Norges Bank acquired a new stake in Red Rock Resorts in Q4 valued at $30,748,000. Finally, Millennium Management LLC increased its stake in Red Rock Resorts by 2,522.9% in the 4th quarter. Millennium Management LLC now owns 501,098 shares of the company valued at $27,565,000 after purchasing an additional 481,993 shares in the last quarter. Institutional investors and hedge funds own 97.51% of the company’s shares.
Shares of NASDAQ: RRR traded at $0.21 during Monday’s trading, reaching $46.81. 341,079 shares were traded, against an average volume of 696,522. The company has a fifty-day simple moving average of $47.49. The company has a market capitalization of $5.02 billion, a P/E ratio of 19.26 and a beta of 2.41. The company has a debt ratio of 56.51, a quick ratio of 2.04 and a current ratio of 2.10. Red Rock Resorts has a 12-month low of $31.67 and a 12-month high of $58.74.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 2.14%. This is an increase from Red Rock Resorts’ previous quarterly dividend of $0.10. The ex-dividend date was Monday, March 14. Red Rock Resorts’ dividend payout ratio is currently 41.15%.
About Red Rock Resorts (Get a rating)
Red Rock Resorts, Inc, through its interests in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The Company owns and operates 9 gaming and entertainment facilities and 10 small casinos in the Las Vegas regional market.
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