Zacks: Analysts Anticipate Red Rock Resorts, Inc. (RRR) to Announce $0.37 Earnings Per Share

Analysts forecast that Red Rock Resorts, Inc. (NASDAQ:RRR) will post $0.37 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Red Rock Resorts’ earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.35. Red Rock Resorts reported earnings of $0.30 per share during the same quarter last year, which indicates a positive year over year growth rate of 23.3%. The business is expected to announce its next earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Red Rock Resorts will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.30. For the next financial year, analysts expect that the company will report earnings of $1.64 per share, with EPS estimates ranging from $1.58 to $1.75. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Red Rock Resorts.

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Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $394.02 million for the quarter, compared to analyst estimates of $406.75 million. Red Rock Resorts had a net margin of 2.18% and a return on equity of 16.11%.

A number of research analysts recently weighed in on RRR shares. ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, January 4th. Stifel Nicolaus downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating and raised their target price for the company from $29.00 to $37.00 in a research report on Friday, February 23rd. They noted that the move was a valuation call. Finally, Telsey Advisory Group started coverage on shares of Red Rock Resorts in a research report on Tuesday, March 13th. They issued a “market perform” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Red Rock Resorts has a consensus rating of “Buy” and an average target price of $32.75.

Red Rock Resorts stock traded down $0.10 during mid-day trading on Monday, reaching $30.21. The company’s stock had a trading volume of 311,256 shares, compared to its average volume of 517,025. The company has a market cap of $3,521.54, a P/E ratio of 48.73 and a beta of 1.56. Red Rock Resorts has a 12 month low of $21.41 and a 12 month high of $35.77. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 4.06.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Wednesday, March 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 64.52%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Red Rock Resorts by 2.5% in the 4th quarter. Swiss National Bank now owns 116,100 shares of the company’s stock valued at $3,917,000 after acquiring an additional 2,800 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Red Rock Resorts by 5.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 510,513 shares of the company’s stock worth $11,824,000 after buying an additional 26,420 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Red Rock Resorts by 763.6% during the 4th 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 during the last quarter. Lomas Capital Management LLC lifted its stake in shares of Red Rock Resorts by 229.2% during the 4th quarter. Lomas Capital Management LLC now owns 885,727 shares of the company’s stock worth $29,884,000 after buying an additional 616,642 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Red Rock Resorts by 46.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock worth $48,250,000 after buying an additional 451,588 shares during the last quarter. 63.22% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Red Rock Resorts (NASDAQ:RRR)

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