Why Red Rock Resorts (RRR) Could Be Positioned for a Surge
Red Rock Resorts, Inc. RRR is a provider of gaming and entertainment that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on RRR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Red Rock Resorts could be a solid choice for investors.
Current Quarter Estimates for RRR
In the past 30 days, one estimate has gone higher for Red Rock Resorts while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates moving from a loss of 9 cents a share 30 days ago, to earnings of 8 cents today, a significant move.
Current Year Estimates for RRR
Meanwhile, Red Rock Resorts’ current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.91 per share 30 days ago to a loss of $1.73 per share today.
Red Rock Resorts, Inc. Price and Consensus
The stock has also started to move higher lately, adding 11.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.