$0.21 EPS Expected for Red Rock Resorts, Inc. (NASDAQ:RRR) This Quarter


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Wall Street analysts expect Red Rock Resorts, Inc. (NASDAQ:RRR) to report earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Red Rock Resorts’ earnings, with estimates ranging from $0.17 to $0.27. Red Rock Resorts reported earnings per share of ($0.11) in the same quarter last year, which suggests a positive year over year growth rate of 290.9%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, May 4th.

According to Zacks, analysts expect that Red Rock Resorts will report full year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $1.15. For the next fiscal year, analysts anticipate that the business will post earnings of $0.98 per share, with EPS estimates ranging from $0.75 to $1.39. Zacks’ EPS averages are an average based on a survey of research analysts that cover Red Rock Resorts.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Monday, February 8th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.15. Red Rock Resorts had a negative net margin of 13.48% and a negative return on equity of 2.52%. The business had revenue of $343.41 million for the quarter, compared to analysts’ expectations of $342.17 million. During the same quarter last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was down 25.5% compared to the same quarter last year.

A number of research analysts recently weighed in on RRR shares. Truist lifted their price objective on shares of Red Rock Resorts from $34.00 to $42.00 in a research note on Tuesday, April 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Red Rock Resorts in a research report on Tuesday, April 27th. KeyCorp lifted their target price on Red Rock Resorts from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “sell” rating and set a $31.00 price objective for the company. in a research report on Wednesday, February 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Red Rock Resorts from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $27.77.

Several large investors have recently modified their holdings of RRR. Morgan Stanley grew its stake in shares of Red Rock Resorts by 561.0% during the fourth quarter. Morgan Stanley now owns 1,199,874 shares of the company’s stock valued at $30,046,000 after buying an additional 1,018,353 shares during the last quarter. Norges Bank bought a new position in Red Rock Resorts in the fourth quarter worth approximately $19,019,000. Fuller & Thaler Asset Management Inc. bought a new position in Red Rock Resorts in the fourth quarter worth approximately $12,142,000. Bamco Inc. NY grew its stake in Red Rock Resorts by 6.7% in the fourth quarter. Bamco Inc. NY now owns 7,090,914 shares of the company’s stock worth $177,556,000 after purchasing an additional 448,334 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Red Rock Resorts by 6.7% in the fourth quarter. BlackRock Inc. now owns 4,933,348 shares of the company’s stock worth $123,532,000 after purchasing an additional 310,406 shares in the last quarter. 52.40% of the stock is owned by institutional investors and hedge funds.

NASDAQ RRR traded up $0.72 during trading hours on Thursday, hitting $37.50. The company’s stock had a trading volume of 51,341 shares, compared to its average volume of 858,565. Red Rock Resorts has a 52 week low of $7.51 and a 52 week high of $39.47. The company has a market capitalization of $4.40 billion, a PE ratio of -14.26 and a beta of 2.55. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 5.40. The company’s 50-day simple moving average is $34.51 and its two-hundred day simple moving average is $27.15.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in the casino, gaming, and entertainment businesses in the United States. It operates in two segments, Las Vegas Operations and Native American Management. The company develops, manages, and operates casino and entertainment properties; and owns and operates 10 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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