Brokerages Expect Red Rock Resorts, Inc. (RRR) Will Announce Earnings of $0.21 Per Share
Analysts forecast that Red Rock Resorts, Inc. (NASDAQ:RRR) will announce earnings per share (EPS) of $0.21 for the current quarter, according to Zacks. Three analysts have issued estimates for Red Rock Resorts’ earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.31. Red Rock Resorts reported earnings of $0.20 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is expected to announce its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Red Rock Resorts will report full year earnings of $0.61 per share for the current financial year, with EPS estimates ranging from $0.23 to $1.61. For the next financial year, analysts expect that the company will report earnings of $1.03 per share, with EPS estimates ranging from $0.68 to $1.35. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Red Rock Resorts.
Several research firms recently weighed in on RRR. BidaskClub downgraded shares of Red Rock Resorts from a “sell” rating to a “strong sell” rating in a research report on Friday. SunTrust Banks, Inc. began coverage on shares of Red Rock Resorts in a research note on Thursday. They set a “buy” rating and a $26.00 price objective for the company. ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research raised shares of Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $27.00 price target on shares of Red Rock Resorts in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $26.23.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors grew its holdings in Red Rock Resorts by 6.8% in the first quarter. Nationwide Fund Advisors now owns 280,185 shares of the company’s stock valued at $6,215,000 after purchasing an additional 17,730 shares during the period. Wells Fargo & Company MN grew its stake in Red Rock Resorts by 119.7% during the first quarter. Wells Fargo & Company MN now owns 81,721 shares of the company’s stock worth $1,813,000 after buying an additional 44,523 shares during the period. US Bancorp DE purchased a new stake in Red Rock Resorts during the first quarter worth approximately $495,000. Bank of New York Mellon Corp grew its stake in Red Rock Resorts by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock worth $8,593,000 after buying an additional 34,778 shares during the period. Finally, Swiss National Bank grew its stake in Red Rock Resorts by 33.7% during the first quarter. Swiss National Bank now owns 68,300 shares of the company’s stock worth $1,515,000 after buying an additional 17,200 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.
Shares of Red Rock Resorts (NASDAQ:RRR) traded up 0.18% during midday trading on Friday, reaching $22.61. The company’s stock had a trading volume of 2,360,597 shares. Red Rock Resorts has a 12-month low of $21.07 and a 12-month high of $24.67. The firm has a market capitalization of $1.53 billion, a P/E ratio of 57.53 and a beta of 0.69. The stock has a 50-day moving average of $22.62 and a 200 day moving average of $22.40.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, August 11th. Red Rock Resorts’s payout ratio is currently 83.33%.
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Red Rock Resorts Company Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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