Q4 2019 EPS Estimates for Red Rock Resorts Inc Decreased by Analyst (NASDAQ:RRR)

Red Rock Resorts Inc (NASDAQ:RRR) – Investment analysts at SunTrust Banks cut their Q4 2019 EPS estimates for Red Rock Resorts in a report issued on Tuesday, November 5th. SunTrust Banks analyst B. Jonas now anticipates that the company will earn $0.09 per share for the quarter, down from their previous estimate of $0.14. SunTrust Banks also issued estimates for Red Rock Resorts’ FY2020 earnings at $0.56 EPS and FY2021 earnings at $0.42 EPS.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $482.90 million for the quarter, compared to analysts’ expectations of $441.48 million. Red Rock Resorts had a return on equity of 7.48% and a net margin of 0.04%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank reaffirmed a “buy” rating and set a $25.00 price target on shares of Red Rock Resorts in a research report on Wednesday. BidaskClub raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Nomura reduced their price target on Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. ValuEngine downgraded Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Union Gaming Research downgraded Red Rock Resorts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $22.00 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Red Rock Resorts has an average rating of “Hold” and a consensus price target of $25.50.

Shares of RRR stock traded up $0.21 during trading hours on Friday, reaching $21.52. 552,167 shares of the company’s stock were exchanged, compared to its average volume of 643,074. The stock’s 50 day moving average is $21.02 and its 200-day moving average is $21.84. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 16.43 and a beta of 2.08. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 3.62. Red Rock Resorts has a fifty-two week low of $16.76 and a fifty-two week high of $29.80.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Red Rock Resorts by 1,848.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock worth $37,000 after purchasing an additional 1,719 shares during the period. Bank of Montreal Can grew its position in Red Rock Resorts by 1,067.9% during the 2nd quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock worth $138,000 after purchasing an additional 5,863 shares during the period. Zebra Capital Management LLC acquired a new stake in Red Rock Resorts during the 2nd quarter worth about $215,000. Green Square Asset Management LLC acquired a new stake in Red Rock Resorts during the 2nd quarter worth about $217,000. Finally, LPL Financial LLC grew its position in Red Rock Resorts by 8.6% during the 2nd quarter. LPL Financial LLC now owns 10,099 shares of the company’s stock worth $217,000 after purchasing an additional 797 shares during the period. 65.72% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Frank J. Fertitta III bought 233,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $18.65 per share, with a total value of $4,354,775.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lorenzo J. Fertitta bought 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $19.60 per share, for a total transaction of $245,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,027,509 shares of company stock worth $19,197,896. Insiders own 40.19% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, December 12th. Red Rock Resorts’s payout ratio 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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