Red Rock Resorts (NASDAQ:RRR) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Red Rock Resorts (NASDAQ:RRR) announced its quarterly earnings results on Tuesday. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16, Briefing.com reports. The firm had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Red Rock Resorts Trading Up 2.0 %

Shares of NASDAQ:RRR traded up $1.14 during midday trading on Friday, reaching $57.63. The company had a trading volume of 201,552 shares, compared to its average volume of 455,589. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.79 and a beta of 2.04. The company has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $55.24.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Analyst Ratings Changes

Several equities analysts have commented on RRR shares. Bank of America upgraded shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $57.00 to $55.00 in a research note on Monday, May 13th. Susquehanna raised their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Company lowered Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $63.00 to $64.00 in a research report on Wednesday. Finally, Mizuho dropped their price target on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insiders Place Their Bets

In other news, Vice President Lorenzo J. Fertitta acquired 800,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $50.39 per share, with a total value of $40,312,000.00. Following the completion of the transaction, the insider now owns 47,447,301 shares in the company, valued at $2,390,869,497.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 53.28% of the company’s stock.

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.