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

Equities analysts expect Red Rock Resorts Inc (NASDAQ:RRR) to post $406.75 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Red Rock Resorts’ earnings, with the lowest sales estimate coming in at $403.87 million and the highest estimate coming in at $410.00 million. Red Rock Resorts reported sales of $394.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Red Rock Resorts will report full-year sales of $406.75 million for the current year. For the next financial year, analysts forecast that the company will report sales of $1.64 billion per share, with estimates ranging from $1.59 billion to $1.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Red Rock Resorts.

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 Thomson Reuters’ 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 analyst estimates of $391.48 million.

Several research firms have recently commented on RRR. Zacks Investment Research lowered shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. 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. BidaskClub lowered shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $33.00 price target on shares of Red Rock Resorts in a research report on Tuesday, November 28th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.94.

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Red Rock Resorts by 103.2% in the 2nd quarter. California State Teachers Retirement System now owns 120,408 shares of the company’s stock worth $2,836,000 after acquiring an additional 61,164 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Red Rock Resorts by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 510,513 shares of the company’s stock worth $11,824,000 after acquiring an additional 26,420 shares in the last quarter. Swiss National Bank increased its holdings in Red Rock Resorts by 65.9% in the 3rd quarter. Swiss National Bank now owns 113,300 shares of the company’s stock worth $2,624,000 after acquiring an additional 45,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Red Rock Resorts by 16.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after acquiring an additional 666,099 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in Red Rock Resorts by 1.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,679,886 shares of the company’s stock worth $108,386,000 after acquiring an additional 86,124 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

Shares of Red Rock Resorts (NASDAQ RRR) opened at $31.30 on Friday. Red Rock Resorts has a 52-week low of $20.87 and a 52-week high of $35.77. The company has a market cap of $3,640.00 and a PE ratio of 30.39. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.26 and a current ratio of 1.29.

TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/09/red-rock-resorts-inc-rrr-expected-to-announce-quarterly-sales-of-406-75-million-2.html.

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.

Get a free copy of the Zacks research report on Red Rock Resorts (RRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply