Red Rock Resorts (NASDAQ:RRR) Releases Earnings Results

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

Red Rock Resorts Stock Performance

RRR opened at $50.23 on Wednesday. Red Rock Resorts has a 1-year low of $37.82 and a 1-year high of $63.28. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08. The business has a 50 day moving average price of $57.82 and a two-hundred day moving average price of $52.51. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Susquehanna raised their target price on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Macquarie raised 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. Wells Fargo & Company raised their target price on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Bank of America increased their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.42.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 53.28% of the company’s stock.

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.