Red Rock Resorts (NASDAQ:RRR) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Red Rock Resorts (NASDAQ:RRR) posted its quarterly earnings data on Tuesday. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16, Briefing.com reports. Red Rock Resorts had a return on equity of 87.05% and a net margin of 9.21%. The company had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis.

Red Rock Resorts Price Performance

RRR stock traded up $0.86 during trading on Friday, hitting $57.35. 76,250 shares of the company’s stock traded hands, compared to its average volume of 454,850. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 2.79 and a beta of 2.04. The business has a fifty day simple moving average of $53.59 and a 200 day simple moving average of $55.24. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Insider Activity

In related news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $50.39 per share, for a total transaction of $40,312,000.00. Following the acquisition, the insider now owns 47,447,301 shares of the company’s stock, valued at approximately $2,390,869,497.39. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 53.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday. JMP Securities reduced their target price on Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. Mizuho decreased their price target on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. increased their price objective on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.33.

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.