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

Red Rock Resorts (NASDAQ:RRR) released its earnings results 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. The company had revenue of $488.90 million during the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $50.23 on Wednesday. Red Rock Resorts has a 12 month low of $37.82 and a 12 month high of $63.28. The firm has a market capitalization of $5.28 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.81 and a beta of 2.08. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The company’s fifty day moving average price is $57.82 and its 200 day moving average price is $52.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RRR shares. Truist Financial lifted their price objective 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 Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their target price on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Bank of America lifted their price target on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, JMP Securities increased their price objective on shares of Red Rock Resorts from $61.00 to $66.00 and gave the company a “market outperform” rating in a research report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.42.

Insider Buying and Selling at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. 53.28% of the stock is currently owned by insiders.

Red Rock Resorts Company Profile

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.