Red Rock Resorts (NASDAQ:RRR) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Red Rock Resorts (NASDAQ:RRR) posted its quarterly earnings data on Tuesday. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18, Briefing.com reports. The company had revenue of $488.90 million during the quarter, compared to analysts’ expectations of $490.49 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS.

Red Rock Resorts Stock Down 4.3 %

RRR opened at $52.00 on Wednesday. The business’s fifty day simple moving average is $57.82 and its 200 day simple moving average is $52.51. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The firm has a market cap of $5.47 billion, a P/E ratio of 18.43, a PEG ratio of 2.81 and a beta of 2.08. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RRR shares. Susquehanna raised their target price on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Wells Fargo & Company upped their target price on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Truist Financial lifted their price target on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price target on Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Macquarie raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $58.00 in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.42.

Insider Buying and Selling at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.28% of the stock is owned by insiders.

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.