Red Rock Resorts Inc (RRR) Expected to Announce Earnings of $0.25 Per Share

Wall Street brokerages forecast that Red Rock Resorts Inc (NASDAQ:RRR) will report $0.25 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Red Rock Resorts’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.15. Red Rock Resorts posted earnings of $0.18 per share in the same quarter last year, which would suggest a positive year over year growth rate of 38.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Red Rock Resorts will report full year earnings of $1.44 per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of $1.52 per share, with EPS estimates ranging from $0.91 to $2.01. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Red Rock Resorts.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, July 31st. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. The company had revenue of $416.19 million for the quarter, compared to analysts’ expectations of $408.46 million. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%.

Several analysts have recently commented on the company. BidaskClub cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Zacks Investment Research cut Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine cut Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Friday, September 7th. TheStreet cut Red Rock Resorts from a “b-” rating to a “c” rating in a report on Monday, September 24th. Finally, SunTrust Banks restated a “buy” rating and set a $38.00 target price on shares of Red Rock Resorts in a report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Red Rock Resorts has an average rating of “Hold” and an average target price of $35.30.

Several institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of Red Rock Resorts by 0.6% during the first quarter. New York State Common Retirement Fund now owns 320,818 shares of the company’s stock valued at $9,394,000 after acquiring an additional 1,800 shares during the period. SG Americas Securities LLC lifted its stake in shares of Red Rock Resorts by 86.0% during the first quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock valued at $165,000 after acquiring an additional 2,607 shares during the period. Prudential Financial Inc. lifted its stake in shares of Red Rock Resorts by 39.5% during the first quarter. Prudential Financial Inc. now owns 9,330 shares of the company’s stock valued at $273,000 after acquiring an additional 2,640 shares during the period. Rhumbline Advisers lifted its stake in shares of Red Rock Resorts by 6.1% during the second quarter. Rhumbline Advisers now owns 67,416 shares of the company’s stock valued at $2,258,000 after acquiring an additional 3,862 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Red Rock Resorts by 29.8% during the first quarter. Legal & General Group Plc now owns 25,800 shares of the company’s stock valued at $756,000 after acquiring an additional 5,924 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of RRR stock opened at $25.06 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 3.23. The firm has a market cap of $3.10 billion, a PE ratio of 40.42 and a beta of 1.59. Red Rock Resorts has a 52 week low of $22.84 and a 52 week high of $36.99.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, September 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 64.52%.

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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