SunTrust Banks Weighs in on Red Rock Resorts Inc’s Q4 2017 Earnings (RRR)

Red Rock Resorts Inc (NASDAQ:RRR) – SunTrust Banks upped their Q4 2017 earnings estimates for Red Rock Resorts in a report released on Monday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings per share of $0.28 for the quarter, up from their prior estimate of $0.27. SunTrust Banks also issued estimates for Red Rock Resorts’ Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.29 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.35 EPS, FY2019 earnings at $1.72 EPS and FY2020 earnings at $1.98 EPS.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.18 EPS for the quarter, meeting the 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 during the quarter, compared to the consensus estimate of $391.48 million.

Other equities analysts also recently issued research reports about the stock. Bank of America upped their price objective on shares of Red Rock Resorts from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Deutsche Bank upped their price objective on shares of Red Rock Resorts from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, January 4th. BidaskClub downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.94.

Shares of Red Rock Resorts (NASDAQ:RRR) opened at $32.65 on Tuesday. The company has a market cap of $3,992.96, a price-to-earnings ratio of 24.38, a P/E/G ratio of 5.16 and a beta of 1.10. The company has a debt-to-equity ratio of 4.41, a current ratio of 1.29 and a quick ratio of 1.26. Red Rock Resorts has a 12-month low of $20.87 and a 12-month high of $35.77.

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Red Rock Resorts by 62.8% in the 2nd quarter. Wells Fargo & Company MN now owns 133,006 shares of the company’s stock valued at $3,132,000 after purchasing an additional 51,285 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Red Rock Resorts by 92.8% in the 2nd quarter. Alliancebernstein L.P. now owns 98,700 shares of the company’s stock valued at $2,324,000 after purchasing an additional 47,500 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $208,000. New York State Common Retirement Fund increased its holdings in shares of Red Rock Resorts by 8.8% in the 2nd quarter. New York State Common Retirement Fund now owns 359,643 shares of the company’s stock valued at $8,470,000 after purchasing an additional 29,089 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $250,000. Institutional investors own 64.39% of the company’s stock.

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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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