Red Rock Resorts (NASDAQ:RRR) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Red Rock Resorts (NASDAQ:RRR) announced its quarterly earnings data 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. The firm had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share.

Red Rock Resorts Price Performance

NASDAQ:RRR traded up $0.38 during trading hours on Thursday, reaching $50.60. 258,538 shares of the company were exchanged, compared to its average volume of 441,113. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The firm has a market cap of $5.32 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The stock’s 50-day moving average is $57.69 and its 200-day moving average is $52.50.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Insider Activity

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’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 transaction of $434,204.80. Following the completion of the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 53.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on RRR shares. Bank of America upped their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 8th. Susquehanna lifted their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Mizuho decreased their price objective on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial raised their target price on Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley lifted their price target on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.75.

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.