Wall Street analysts expect Red Rock Resorts Inc (NASDAQ:RRR) to report earnings of $0.10 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Red Rock Resorts’ earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.14. Red Rock Resorts reported earnings of $0.20 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 50%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Red Rock Resorts will report full-year earnings of $0.44 per share for the current year, with EPS estimates ranging from $0.31 to $0.50. For the next fiscal year, analysts expect that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $0.70 to $1.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The company had revenue of $482.90 million during the quarter, compared to analysts’ expectations of $441.48 million. Red Rock Resorts had a net margin of 1.75% and a return on equity of 8.09%. Red Rock Resorts’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share.
In other news, CEO Lorenzo J. Fertitta acquired 75,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $14.17 per share, for a total transaction of $1,062,750.00. Also, Director Lorenzo J. Fertitta acquired 12,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $19.60 per share, with a total value of $245,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,377,509 shares of company stock valued at $25,641,396. 40.19% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Red Rock Resorts by 9.1% in the 2nd quarter. Royal Bank of Canada now owns 844,146 shares of the company’s stock worth $18,132,000 after purchasing an additional 70,548 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Red Rock Resorts by 24.7% in the 2nd quarter. Verition Fund Management LLC now owns 18,700 shares of the company’s stock worth $402,000 after purchasing an additional 3,700 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of Red Rock Resorts by 4.3% in the 2nd quarter. Bamco Inc. NY now owns 9,543,154 shares of the company’s stock worth $204,987,000 after purchasing an additional 391,359 shares in the last quarter. Waddell & Reed Financial Inc. boosted its holdings in shares of Red Rock Resorts by 12.2% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 948,198 shares of the company’s stock worth $20,367,000 after purchasing an additional 102,975 shares in the last quarter. Finally, Green Square Asset Management LLC purchased a new position in shares of Red Rock Resorts in the 2nd quarter worth about $217,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.
Shares of NASDAQ RRR traded up $0.77 during mid-day trading on Friday, hitting $20.95. The company had a trading volume of 13,741 shares, compared to its average volume of 668,157. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 16.01 and a beta of 2.07. Red Rock Resorts has a 1 year low of $16.76 and a 1 year high of $29.80. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 3.62. The stock’s 50-day moving average price is $20.75 and its 200-day moving average price is $22.58.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, September 12th. Red Rock Resorts’s payout ratio is 30.53%.
Red Rock Resorts Company Profile
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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