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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $71.9444.

A number of research analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating on shares of Red Rock Resorts in a report on Wednesday, August 5th. Barclays raised their price objective on Red Rock Resorts from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Benchmark reaffirmed a “buy” rating on shares of Red Rock Resorts in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Red Rock Resorts from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Citizens Jmp upped their target price on Red Rock Resorts from $69.00 to $71.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $57.09 on Friday. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 4.66 and a beta of 1.31. The company has a debt-to-equity ratio of 12.33, a current ratio of 0.68 and a quick ratio of 0.63. Red Rock Resorts has a 12-month low of $50.52 and a 12-month high of $68.99. The business has a 50 day simple moving average of $62.92 and a 200 day simple moving average of $59.45.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.16. Red Rock Resorts had a return on equity of 56.19% and a net margin of 8.43%.The company had revenue of $510.26 million for the quarter, compared to analysts’ expectations of $500.08 million. During the same period last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Red Rock Resorts will post 1.54 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Red Rock Resorts’s payout ratio is presently 36.75%.

Insiders Place Their Bets

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the sale, the president owned 203,881 shares in the company, valued at $12,595,768.18. This represents a 13.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 54.34% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently modified their holdings of RRR. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. grew its stake in Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Nykredit A S acquired a new position in Red Rock Resorts in the 2nd quarter worth about $45,000. Public Employees Retirement System of Ohio acquired a new position in Red Rock Resorts in the 2nd quarter worth about $47,000. Finally, Ameritas Advisory Services LLC acquired a new position in Red Rock Resorts in the 2nd quarter worth about $52,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.