Zacks: Brokerages Expect Red Rock Resorts Inc (RRR) Will Post Earnings of $0.27 Per Share

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Wall Street brokerages forecast that Red Rock Resorts Inc (NASDAQ:RRR) will post earnings per share of $0.27 for the current quarter, Zacks reports. Three analysts have issued estimates for Red Rock Resorts’ earnings, with estimates ranging from $0.21 to $0.31. 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 50%. The firm is expected to report its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Red Rock Resorts will report full year earnings of $1.44 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.70 per share, with EPS estimates ranging from $1.45 to $2.01. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Red Rock Resorts.

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

A number of research firms have issued reports on RRR. BidaskClub cut shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Zacks Investment Research cut shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. ValuEngine cut shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, SunTrust Banks restated a “buy” rating and issued a $38.00 price objective on shares of Red Rock Resorts in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $35.30.

RRR stock opened at $27.96 on Tuesday. Red Rock Resorts has a 12-month low of $22.50 and a 12-month high of $36.99. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 45.10 and a beta of 1.43. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.63 and a current ratio of 0.67.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Thursday, September 13th. Red Rock Resorts’s payout ratio is 64.52%.

Several institutional investors and hedge funds have recently made changes to their positions in RRR. SG Americas Securities LLC boosted its stake in shares of Red Rock Resorts by 86.0% during the 1st quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock valued at $165,000 after purchasing an additional 2,607 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $6,025,000. Prudential Financial Inc. boosted its stake in shares of Red Rock Resorts by 39.5% during the 1st quarter. Prudential Financial Inc. now owns 9,330 shares of the company’s stock valued at $273,000 after purchasing an additional 2,640 shares in the last quarter. Swiss National Bank boosted its stake in shares of Red Rock Resorts by 2.2% during the 1st quarter. Swiss National Bank now owns 118,700 shares of the company’s stock valued at $3,476,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Red Rock Resorts by 21.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 491,097 shares of the company’s stock valued at $14,380,000 after purchasing an additional 88,210 shares in the last quarter. 61.30% of the stock is currently owned by hedge funds and other institutional investors.

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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