Red Rock Resorts
(RRR - Snapshot Report
) has only reported one quarter. It is now
a Zacks Rank #5 (Strong Sell) and is the Bear of the Day. Let's
take a look at why this is the case.
Red Rock Resorts operates gaming, hotel, and casino properties. It operates 21 casino and entertainment properties primarily located in Las Vegas. The company was formerly known as Station Casinos Corp. and changed its name to Red Rock Resorts, Inc. in January 2016.
RRR missed the Zacks Consensus Estimate of $0.40 by $0.16 for a negative earnings surprise of 40%.
Revenue came in at $351M while the Zacks Consensus Estimate was
looking for $352M.
The Zacks Consensus Estimate
has been falling over the last few months. The FY16
estimate stood at $1.58 in July and then fell to
$1.45 in August. The estimate currently states at $1.31.
Next year has also seen a move lower in estimates with the
2017 Zacks Consensus Estimate moving from $1.94 to $1.79 over the
same time period.
The decline in estimates is the main reason this is a Zacks Rank #5 (Strong Sell) and the Bear of the Day.
Zacks has developed a chart that helps investors see how
earnings estimates have
the price of the stock over the last several years. We call
this chart the
consensus chart, and each color coded lines represents
analyst estimates over a
designated year. As estimates increase, the stock tends to
follow. The Zacks
impacted by earnings estimate increases, beats and
incorporates the idea of
agreement and magnitude. As a
Zacks Rank #5 (Strong Sell) we see that estimates are moving
More Stocks to Sell. Now.
Beyond our Bear Stock of the Day, today's list of 220 Zacks Rank #5
Strong Sells demand even more urgent attention. If any are lurking
in your portfolio or Watch List, they should be removed
immediately. Many appear to be sound investments but, since 1988,
such stocks have actually performed more than 11X worse than the
See today's Zacks "Strong Sells"
absolutely free >>.
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