Red Rock Resorts Inc (NASDAQ:RRR) – Equities research analysts at SunTrust Banks dropped their Q2 2019 earnings estimates for Red Rock Resorts in a report issued on Wednesday, May 29th. SunTrust Banks analyst B. Jonas now anticipates that the company will earn $0.14 per share for the quarter, down from their prior estimate of $0.17. SunTrust Banks also issued estimates for Red Rock Resorts’ FY2020 earnings at $1.00 EPS.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.16). The company had revenue of $447.00 million for the quarter, compared to the consensus estimate of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share.

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Saturday. Macquarie raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Tuesday, May 21st. BidaskClub downgraded shares of Red Rock Resorts from a “sell” rating to a “strong sell” rating in a report on Friday, May 17th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price objective (down from $28.00) on shares of Red Rock Resorts in a report on Wednesday, May 1st. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Red Rock Resorts in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.50.

RRR opened at $20.88 on Friday. The company has a market capitalization of $2.49 billion, a P/E ratio of 15.94 and a beta of 2.11. Red Rock Resorts has a 12 month low of $18.78 and a 12 month high of $36.99. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 3.52.

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in Red Rock Resorts by 47.5% in the 4th quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock valued at $29,000 after purchasing an additional 463 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Red Rock Resorts by 2.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 19,119 shares of the company’s stock valued at $494,000 after purchasing an additional 493 shares during the period. Advisor Group Inc. boosted its holdings in Red Rock Resorts by 4.2% in the 1st quarter. Advisor Group Inc. now owns 14,385 shares of the company’s stock valued at $372,000 after purchasing an additional 582 shares during the period. First Quadrant L P CA bought a new position in Red Rock Resorts in the 1st quarter valued at $42,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Red Rock Resorts by 19.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,920 shares of the company’s stock valued at $309,000 after purchasing an additional 1,927 shares during the period. 61.84% of the stock is owned by hedge funds and other institutional investors.

In other Red Rock Resorts news, insider Joseph J. Hasson sold 12,891 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total value of $299,586.84. Following the completion of the transaction, the insider now directly owns 12,891 shares of the company’s stock, valued at approximately $299,586.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph J. Hasson sold 31,628 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.42, for a total transaction of $835,611.76. Following the completion of the transaction, the insider now directly owns 13,921 shares of the company’s stock, valued at $367,792.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,112 shares of company stock valued at $3,744,035. 0.40% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Earnings History and Estimates for Red Rock Resorts (NASDAQ:RRR)

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