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

Red Rock Resorts (NASDAQ:RRR) posted its quarterly earnings results on Tuesday. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18, Briefing.com reports. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $488.90 million for the quarter, compared to analysts’ expectations of $490.49 million. During the same quarter in the previous year, the firm posted $0.75 EPS. Red Rock Resorts’s revenue was up 12.7% on a year-over-year basis.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $54.36 on Wednesday. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.81 and a beta of 2.08. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a fifty day moving average of $57.82 and a 200 day moving average of $52.51. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28.

Insider Buying and Selling at Red Rock Resorts

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

Analysts Set New Price Targets

Several brokerages have issued reports on RRR. JMP Securities boosted their target price on Red Rock Resorts from $61.00 to $66.00 and gave the company a “market outperform” rating in a research note on Friday, April 19th. Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $58.00 in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft increased their target price 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. Morgan Stanley boosted their price target on shares of Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Bank of America raised their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.42.

About Red Rock Resorts

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.