Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $67.6667.

Several brokerages have recently commented on RRR. Citigroup decreased their price target on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Susquehanna decreased their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $72.00 price target on shares of Red Rock Resorts in a research note on Thursday, April 30th. Jefferies Financial Group decreased their price target on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. reduced their target price on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC lifted its stake in Red Rock Resorts by 123.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 36,165 shares of the company’s stock valued at $1,930,000 after buying an additional 19,991 shares in the last quarter. California State Teachers Retirement System lifted its stake in Red Rock Resorts by 28.0% in the 1st quarter. California State Teachers Retirement System now owns 59,735 shares of the company’s stock valued at $3,187,000 after buying an additional 13,055 shares in the last quarter. Empowered Funds LLC purchased a new stake in Red Rock Resorts in the 1st quarter valued at approximately $269,000. Quantinno Capital Management LP lifted its stake in Red Rock Resorts by 167.7% in the 1st quarter. Quantinno Capital Management LP now owns 35,223 shares of the company’s stock valued at $1,880,000 after buying an additional 22,065 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Red Rock Resorts by 204.7% in the 1st quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock valued at $16,029,000 after buying an additional 201,800 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $57.22 on Wednesday. The business’s 50 day simple moving average is $55.24 and its 200-day simple moving average is $58.80. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 3.77 and a beta of 1.35. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts has a 12 month low of $47.53 and a 12 month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). The firm had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.Red Rock Resorts’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. As a group, equities analysts forecast that Red Rock Resorts will post 1.71 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.