Q2 2024 EPS Estimates for Red Rock Resorts, Inc. (NASDAQ:RRR) Lifted by Analyst

Red Rock Resorts, Inc. (NASDAQ:RRRFree Report) – Analysts at Zacks Research lifted their Q2 2024 earnings estimates for Red Rock Resorts in a research report issued to clients and investors on Tuesday, May 28th. Zacks Research analyst M. Kaushik now expects that the company will earn $0.43 per share for the quarter, up from their previous estimate of $0.42. The consensus estimate for Red Rock Resorts’ current full-year earnings is $1.83 per share. Zacks Research also issued estimates for Red Rock Resorts’ Q4 2024 earnings at $0.53 EPS, Q1 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.44 EPS, FY2025 earnings at $2.01 EPS, Q1 2026 earnings at $0.64 EPS and FY2026 earnings at $2.25 EPS.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.18. The firm had revenue of $488.90 million during the quarter, compared to analyst estimates of $490.49 million. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS.

A number of other brokerages also recently issued reports on RRR. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. JMP Securities decreased their price target on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus cut their target price on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Barclays cut their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Mizuho cut their price target on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $61.58.

Check Out Our Latest Research Report on Red Rock Resorts

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $49.75 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 18.49. The firm has a market capitalization of $5.25 billion, a PE ratio of 17.27, a P/E/G ratio of 2.32 and a beta of 2.08. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28. The company has a 50-day moving average price of $55.61 and a two-hundred day moving average price of $53.46.

Institutional Investors Weigh In On Red Rock Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Red Rock Resorts during the 1st quarter valued at approximately $78,000. Virtu Financial LLC purchased a new stake in Red Rock Resorts during the 4th quarter valued at approximately $212,000. Core Wealth Partners LLC purchased a new stake in Red Rock Resorts during the 4th quarter valued at approximately $213,000. Finally, SG Americas Securities LLC purchased a new stake in Red Rock Resorts during the 1st quarter valued at approximately $236,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the completion of the sale, the chief executive officer now owns 45,847,301 shares of the company’s stock, valued at approximately $2,310,245,497.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 53.28% of the company’s stock.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 14th. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Red Rock Resorts Company Profile

(Get Free Report)

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.

See Also

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

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