Red Rock Resorts (NASDAQ:RRR – Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16, FiscalAI reports. The company had revenue of $510.26 million during the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%.
Red Rock Resorts Stock Down 2.0%
Shares of NASDAQ:RRR traded down $1.34 during midday trading on Tuesday, hitting $64.27. The stock had a trading volume of 1,640,313 shares, compared to its average volume of 815,998. The business’s 50-day simple moving average is $62.55 and its 200-day simple moving average is $59.83. Red Rock Resorts has a 12 month low of $50.52 and a 12 month high of $68.99. The company has a market cap of $6.75 billion, a P/E ratio of 20.67, a PEG ratio of 4.73 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Red Rock Resorts from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. UBS Group set a $75.00 price objective on Red Rock Resorts in a report on Thursday, July 2nd. Citigroup reissued an “outperform” rating on shares of Red Rock Resorts in a research note on Thursday, July 16th. Susquehanna decreased their price objective on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, April 30th. Finally, Zacks Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.24.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at $201,000. T. Rowe Price Investment Management Inc. increased its position in Red Rock Resorts by 2.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 323,267 shares of the company’s stock worth $20,027,000 after buying an additional 6,464 shares during the period. Invesco Ltd. grew its stake in shares of Red Rock Resorts by 345.6% in the fourth 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 grew its position in shares of Red Rock Resorts by 1,374.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 33,732 shares of the company’s stock worth $2,130,000 after purchasing an additional 31,445 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Red Rock Resorts by 7.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock valued at $74,799,000 after buying an additional 82,849 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.
Red Rock Resorts Company Profile
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.
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