Red Rock Resorts (NASDAQ:RRR) Announces Earnings Results

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

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $50.98 on Friday. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.81 and a beta of 2.08. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The business has a 50 day simple moving average of $57.55 and a 200-day simple moving average of $52.49. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, June 14th. Red Rock Resorts’s payout ratio is 34.72%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RRR. Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $51.00 to $58.00 in a research report on Wednesday, January 17th. JMP Securities cut their target price on Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Bank of America increased their target price on Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Barclays cut their target price on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Insider Activity

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the sale, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 53.28% of the company’s stock.

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.