Analysts forecast that Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) will post sales of $400.36 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Red Rock Resorts’ earnings. The lowest sales estimate is $392.22 million and the highest is $409.90 million. Red Rock Resorts posted sales of $428.16 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.5%. The business is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, 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 year, analysts forecast that the firm will report sales of $1.66 billion, with estimates ranging from $1.61 billion to $1.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Red Rock Resorts.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.24. The business had revenue of $401.64 million for the quarter, compared to analyst estimates of $408.32 million. Red Rock Resorts had a net margin of 21.30% and a return on equity of 81.97%. Red Rock Resorts’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in RRR. First Trust Advisors LP purchased a new stake in Red Rock Resorts during the 1st quarter valued at $486,000. Principal Financial Group Inc. raised its holdings in Red Rock Resorts by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 12,935 shares of the company’s stock worth $663,000 after purchasing an additional 3,077 shares in the last quarter. Citigroup Inc. raised its holdings in Red Rock Resorts by 55.3% in the 3rd quarter. Citigroup Inc. now owns 18,596 shares of the company’s stock worth $953,000 after purchasing an additional 6,619 shares in the last quarter. American Century Companies Inc. raised its holdings in Red Rock Resorts by 111.2% in the 3rd quarter. American Century Companies Inc. now owns 23,996 shares of the company’s stock worth $1,229,000 after purchasing an additional 12,635 shares in the last quarter. Finally, Credit Suisse AG raised its holdings in Red Rock Resorts by 24.3% in the 3rd quarter. Credit Suisse AG now owns 48,225 shares of the company’s stock worth $2,469,000 after purchasing an additional 9,436 shares in the last quarter. 99.30% of the stock is owned by institutional investors and hedge funds.
Red Rock Resorts stock opened at $38.73 on Wednesday. The firm’s 50 day simple moving average is $42.90 and its 200 day simple moving average is $46.57. The company has a current ratio of 1.98, a quick ratio of 1.93 and a debt-to-equity ratio of 29.17. The firm has a market capitalization of $4.16 billion, a PE ratio of 9.40 and a beta of 2.32. Red Rock Resorts has a 1-year low of $34.05 and a 1-year high of $58.74.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.00 annualized dividend and a yield of 2.58%. Red Rock Resorts’s payout ratio is currently 24.27%.
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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