Red Rock Resorts Inc (RRR) Expected to Announce Quarterly Sales of $406.75 Million

Equities research analysts expect Red Rock Resorts Inc (NASDAQ:RRR) to announce sales of $406.75 million for the current quarter, according to Zacks. Four analysts have provided estimates for Red Rock Resorts’ earnings. The highest sales estimate is $410.00 million and the lowest is $403.87 million. Red Rock Resorts posted sales of $394.55 million in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The business is expected to issue its next quarterly earnings results on Tuesday, March 6th.

On average, analysts expect that Red Rock Resorts will report full year sales of $406.75 million for the current financial year. For the next financial year, analysts anticipate that the firm will report sales of $1.64 billion per share, with estimates ranging from $1.59 billion to $1.66 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Red Rock Resorts.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, November 7th. The company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Red Rock Resorts had a net margin of 1.61% and a return on equity of 15.00%. The firm had revenue of $400.37 million for the quarter, compared to analysts’ expectations of $391.48 million.

Several equities research analysts have recently commented on the stock. Deutsche Bank reaffirmed a “buy” rating and set a $38.00 price target on shares of Red Rock Resorts in a research report on Thursday, December 21st. Zacks Investment Research lowered shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price target (up previously from $27.00) on shares of Red Rock Resorts in a research report on Tuesday, October 10th. ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Union Gaming Research lowered shares of Red Rock Resorts from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $27.00 in a report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.50.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bamco Inc. NY boosted its position in Red Rock Resorts by 28.0% during the third quarter. Bamco Inc. NY now owns 7,095,981 shares of the company’s stock valued at $164,343,000 after purchasing an additional 1,550,892 shares in the last quarter. Vanguard Group Inc. boosted its stake in Red Rock Resorts by 16.0% during the second quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after buying an additional 666,099 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Red Rock Resorts by 1.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,679,886 shares of the company’s stock worth $108,386,000 after buying an additional 86,124 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Red Rock Resorts by 46.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,285,300 shares of the company’s stock valued at $99,248,000 after purchasing an additional 1,366,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Red Rock Resorts by 1.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,773,069 shares of the company’s stock valued at $41,756,000 after purchasing an additional 21,967 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

Shares of Red Rock Resorts (NASDAQ:RRR) traded up $0.22 during trading hours on Tuesday, reaching $34.10. The company’s stock had a trading volume of 543,800 shares, compared to its average volume of 468,971. Red Rock Resorts has a fifty-two week low of $20.87 and a fifty-two week high of $35.16. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.41. The stock has a market cap of $3,934.89, a price-to-earnings ratio of 77.50, a price-to-earnings-growth ratio of 5.09 and a beta of 1.59.

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About Red Rock Resorts

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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