Red Rock Resorts (NASDAQ:RRR) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Red Rock Resorts (NASDAQ:RRR) released its quarterly earnings results on Tuesday. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16, Briefing.com reports. The firm had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS.

Red Rock Resorts Stock Up 0.3 %

Shares of Red Rock Resorts stock traded up $0.17 during trading on Thursday, reaching $56.49. The company had a trading volume of 612,814 shares, compared to its average volume of 457,506. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. The firm’s fifty day moving average is $53.49 and its 200-day moving average is $55.24. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.89 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Red Rock Resorts’s dividend payout ratio is presently 34.72%.

Insiders Place Their Bets

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of Red Rock Resorts stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $50.39 per share, for a total transaction of $40,312,000.00. Following the transaction, the insider now owns 47,447,301 shares in the company, valued at approximately $2,390,869,497.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on RRR shares. Macquarie lifted their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus raised their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday. Wells Fargo & Company cut Red Rock Resorts from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $63.00 to $64.00 in a research report on Wednesday. Susquehanna raised their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Barclays boosted their price target on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Red Rock Resorts Company Profile

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.