Casino resort and entertainment company Red Rock Resorts (NASDAQ: RRR) will be reporting earnings this Tuesday after market close. Here’s what to look for.
Red Rock Resorts beat analysts’ revenue expectations last quarter, reporting revenues of $510.3 million, down 3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Red Rock Resorts a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Red Rock Resorts’s revenue to be flat year on year, in line with the 1.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Red Rock Resorts rarely misses Wall Street’s revenue estimates.
Looking at Red Rock Resorts’s peers in the consumer discretionary - casino operator segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Boyd Gaming’s revenues decreased 1.4% year on year, missing analysts’ expectations by 1.1%, and Monarch reported revenues up 2.4%, falling short of estimates by 0.7%. Boyd Gaming’s stock price was unchanged after the resultswhile Monarch was down 2.6%.
Read our full analysis of Boyd Gaming’s results here and Monarch’s results here.
There has been positive sentiment among investors in the consumer discretionary - casino operator segment, with share prices up 3.1% on average over the last month. Red Rock Resorts is down 3.7% during the same time and is heading into earnings with an average analyst price target of $72.22 (compared to the current share price of $49.17).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
