Red Rock Resorts (NASDAQ:RRR) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Red Rock Resorts (NASDAQ:RRR) released its quarterly earnings data on Wednesday. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17, FiscalAI reports. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The business had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $507.77 million.

Red Rock Resorts Stock Up 1.0%

NASDAQ RRR traded up $0.53 during trading on Wednesday, hitting $56.06. The stock had a trading volume of 1,255,536 shares, compared to its average volume of 815,454. The company has a market capitalization of $5.89 billion, a PE ratio of 17.91, a P/E/G ratio of 2.42 and a beta of 1.48. The company’s 50-day moving average price is $57.86 and its two-hundred day moving average price is $59.28. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. Red Rock Resorts has a 12 month low of $41.83 and a 12 month high of $68.99.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $0.26 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.04 annualized dividend and a yield of 1.9%. Red Rock Resorts’s payout ratio is presently 33.23%.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Red Rock Resorts in the 4th quarter valued at approximately $201,000. T. Rowe Price Investment Management Inc. lifted its stake in Red Rock Resorts by 2.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 323,267 shares of the company’s stock valued at $20,027,000 after acquiring an additional 6,464 shares in the last quarter. Invesco Ltd. lifted its stake in Red Rock Resorts by 345.6% in the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock valued at $65,301,000 after acquiring an additional 817,524 shares in the last quarter. State of Tennessee Department of Treasury lifted its stake in Red Rock Resorts by 1,374.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 33,732 shares of the company’s stock valued at $2,130,000 after acquiring an additional 31,445 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Red Rock Resorts by 7.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock valued at $74,799,000 after acquiring an additional 82,849 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RRR. Citizens Jmp lifted their price objective on Red Rock Resorts from $65.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, January 14th. Barclays lifted their price objective on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. cut their price objective on Red Rock Resorts from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, Mizuho set a $77.00 price objective on Red Rock Resorts in a report on Wednesday, February 11th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $70.64.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.