Red Rock Resorts (NASDAQ:RRR) Issues Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Red Rock Resorts (NASDAQ:RRR - Get Free Report) released its earnings results on Thursday. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.33, Zacks reports. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company's revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS.

Red Rock Resorts Stock Up 3.6 %

NASDAQ RRR traded up $1.54 during trading hours on Friday, hitting $43.81. 783,333 shares of the company traded hands, compared to its average volume of 573,352. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The business's 50-day moving average is $43.33 and its 200-day moving average is $47.32. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.73. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 4.32 and a beta of 1.64.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Red Rock Resorts's dividend payout ratio is 38.76%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RRR. Stifel Nicolaus decreased their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research report on Friday. Susquehanna decreased their target price on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a report on Wednesday, April 16th. Mizuho reduced their price objective on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday. Morgan Stanley lowered their price target on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays decreased their target price on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $52.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.