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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $57.33.

A number of research analysts have issued reports on RRR shares. Jefferies Financial Group reissued a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. JMP Securities cut their price target on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Mizuho upped their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial cut their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Susquehanna increased their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after acquiring an additional 766 shares during the last quarter. Quarry LP boosted its position in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the last quarter. KBC Group NV grew its stake in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the period. Tower Research Capital LLC TRC increased its holdings in Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its stake in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $44.43 on Friday. Red Rock Resorts has a twelve month low of $42.33 and a twelve month high of $63.29. 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 firm has a market cap of $4.71 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. The firm’s 50-day simple moving average is $48.05 and its 200-day simple moving average is $49.70.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, research analysts expect that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. Red Rock Resorts’s payout ratio is presently 39.84%.

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.