$400.36 Million in Sales Expected for Red Rock Resorts, Inc. (NASDAQ:RRR) This Quarter

Wall Street analysts expect Red Rock Resorts, Inc. (NASDAQ:RRRGet Rating) to post $400.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Red Rock Resorts’ earnings, with the highest sales estimate coming in at $409.90 million and the lowest estimate coming in at $392.22 million. Red Rock Resorts reported sales of $428.16 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Red Rock Resorts will report full year sales of $1.61 billion for the current year, with estimates ranging from $1.57 billion to $1.65 billion. For the next financial year, analysts forecast that the company will post sales of $1.66 billion, with estimates ranging from $1.61 billion to $1.71 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Red Rock Resorts.

Red Rock Resorts (NASDAQ:RRRGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.24. The firm had revenue of $401.64 million for the quarter, compared to analysts’ expectations of $408.32 million. Red Rock Resorts had a return on equity of 66.37% and a net margin of 21.30%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS.

A number of equities research analysts have weighed in on the company. StockNews.com lowered Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on Red Rock Resorts from $56.00 to $54.00 in a report on Wednesday, May 4th. Finally, Macquarie lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $55.00 in a report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.13.

Shares of RRR opened at $37.62 on Wednesday. Red Rock Resorts has a twelve month low of $35.83 and a twelve month high of $58.74. The firm has a 50 day simple moving average of $45.26. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 9.13 and a beta of 2.32. The company has a debt-to-equity ratio of 56.51, a current ratio of 2.10 and a quick ratio of 2.04.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 24.27%.

Several institutional investors have recently modified their holdings of the stock. Nicholas Investment Partners LP raised its position in shares of Red Rock Resorts by 15.2% during the 1st quarter. Nicholas Investment Partners LP now owns 355,171 shares of the company’s stock worth $17,247,000 after purchasing an additional 46,938 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Red Rock Resorts in the 1st quarter valued at $145,000. Swiss National Bank raised its holdings in Red Rock Resorts by 4.1% in the 1st quarter. Swiss National Bank now owns 146,200 shares of the company’s stock valued at $7,099,000 after acquiring an additional 5,800 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Red Rock Resorts by 263.9% in the 1st quarter. Teacher Retirement System of Texas now owns 44,305 shares of the company’s stock valued at $2,151,000 after acquiring an additional 32,131 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Red Rock Resorts in the 1st quarter valued at $826,000. Hedge funds and other institutional investors own 99.30% of the company’s stock.

About Red Rock Resorts (Get Rating)

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 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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