Red Rock Resorts (NASDAQ:RRR) Announces Quarterly Earnings Results

Red Rock Resorts (NASDAQ:RRR) posted its quarterly earnings data on Tuesday. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18, Briefing.com reports. The firm had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS.

Red Rock Resorts Price Performance

NASDAQ:RRR traded up $0.38 during trading hours on Thursday, hitting $50.60. The stock had a trading volume of 258,538 shares, compared to its average volume of 441,113. The company has a 50 day simple moving average of $57.69 and a two-hundred day simple moving average of $52.50. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 2.81 and a beta of 2.08.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, June 14th. Red Rock Resorts’s payout ratio is 34.72%.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 53.28% of the company’s stock.

Wall Street Analysts Forecast Growth

RRR has been the subject of several analyst reports. Mizuho decreased their price objective on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price objective on Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America raised their target price on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays cut their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Susquehanna raised their price objective on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.75.

About Red Rock Resorts

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.