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

Red Rock Resorts (NASDAQ:RRR) released its quarterly earnings results on Tuesday. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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 net margin of 10.21% and a return on equity of 114.32%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR opened at $52.00 on Wednesday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08. The business’s fifty day moving average price is $57.82 and its two-hundred day moving average price is $52.51. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares in the company, valued at $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 53.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RRR shares. Morgan Stanley upped their price target on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company increased their price target on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Barclays upped their price objective on shares of Red Rock Resorts from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Macquarie raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $58.00 in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.42.

Red Rock Resorts Company Profile

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.