Analysts Expect Red Rock Resorts Inc (NASDAQ:RRR) Will Post Quarterly Sales of $468.56 Million

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Analysts forecast that Red Rock Resorts Inc (NASDAQ:RRR) will announce $468.56 million in sales for the current quarter, Zacks 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 in the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The company is expected to announce its next 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 fiscal year, with estimates ranging from $1.85 billion to $1.89 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.97 billion, with estimates ranging from $1.93 billion to $2.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Red Rock Resorts.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.04). Red Rock Resorts had a return on equity of 8.09% and a net margin of 1.75%. The company had revenue of $482.90 million for the quarter, compared to the consensus estimate of $441.48 million. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year.

A number of research analysts recently commented on the company. TheStreet downgraded Red Rock Resorts from a “b-” rating to a “c+” rating in a research note on Thursday, July 11th. ValuEngine upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Goldman Sachs Group upgraded Red Rock Resorts from a “neutral” rating to a “buy” rating and reduced their target price for the company from $31.00 to $29.00 in a report on Tuesday, June 11th. Deutsche Bank set a $24.00 target price on Red Rock Resorts and gave the company a “buy” rating in a report on Monday, August 12th. Finally, BidaskClub raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Red Rock Resorts has a consensus rating of “Hold” and a consensus target price of $25.86.

In other news, Director Frank J. Fertitta III purchased 555,149 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $19.30 per share, for a total transaction of $10,714,375.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lorenzo J. Fertitta purchased 75,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $14.17 per share, for a total transaction of $1,062,750.00. Over the last three months, insiders have purchased 1,357,799 shares of company stock worth $25,257,242. 40.19% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. Bamco Inc. NY raised its stake in shares of Red Rock Resorts by 4.3% in the second quarter. Bamco Inc. NY now owns 9,543,154 shares of the company’s stock worth $204,987,000 after purchasing an additional 391,359 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Red Rock Resorts by 9.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,883,701 shares of the company’s stock valued at $147,862,000 after purchasing an additional 593,837 shares during the period. Vanguard Group Inc. boosted its stake in shares of Red Rock Resorts by 2.0% in the second quarter. Vanguard Group Inc. now owns 6,415,097 shares of the company’s stock worth $137,796,000 after acquiring an additional 123,695 shares during the period. Cohen & Steers Inc. boosted its stake in shares of Red Rock Resorts by 16.6% in the second quarter. Cohen & Steers Inc. now owns 4,267,738 shares of the company’s stock worth $91,671,000 after acquiring an additional 607,780 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Red Rock Resorts by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 4,129,439 shares of the company’s stock worth $88,329,000 after acquiring an additional 362,197 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.

Shares of RRR traded up $0.29 during midday trading on Thursday, reaching $22.50. 754,689 shares of the stock were exchanged, compared to its average volume of 758,138. Red Rock Resorts has a twelve month low of $16.76 and a twelve month high of $29.80. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 3.62. The company has a market cap of $2.60 billion, a P/E ratio of 17.18 and a beta of 2.08. The stock’s 50 day simple moving average is $20.16 and its 200 day simple moving average is $23.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. Red Rock Resorts’s dividend payout ratio 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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Earnings History and Estimates for Red Rock Resorts (NASDAQ:RRR)

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