Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $52.64.

RRR has been the topic of a number of analyst reports. Macquarie reiterated an “outperform” rating and set a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Susquehanna reduced their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Truist Financial reduced their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds have recently made changes to their positions in RRR. Barclays PLC boosted its position in Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after buying an additional 54,863 shares during the period. JPMorgan Chase & Co. boosted its position in Red Rock Resorts by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after buying an additional 14,148 shares during the period. Mayfair Advisory Group LLC boosted its position in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares during the period. Avior Wealth Management LLC boosted its position in Red Rock Resorts by 11.8% during the 4th quarter. Avior Wealth Management LLC now owns 8,828 shares of the company’s stock worth $408,000 after buying an additional 930 shares during the period. Finally, KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after buying an additional 540 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Trading Down 1.6%

Shares of Red Rock Resorts stock opened at $47.20 on Friday. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 4.32 and a beta of 1.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $35.09 and a 12-month high of $61.73. The firm’s 50-day moving average price is $42.79 and its two-hundred day moving average price is $46.95.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.33. The firm had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 14th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, May 14th. This represents a dividend yield of 2.29%. Red Rock Resorts’s payout ratio is currently 38.76%.

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.