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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $61.58.

A number of analysts have recently weighed in on RRR shares. Bank of America raised Red Rock Resorts from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $57.00 to $55.00 in a research report on Monday, May 13th. Mizuho cut their price target on Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Stifel Nicolaus cut their price objective on Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Morgan Stanley boosted their price objective on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $50.39 per share, for a total transaction of $40,312,000.00. Following the transaction, the insider now directly owns 47,447,301 shares in the company, valued at $2,390,869,497.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 53.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd raised its holdings in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter worth approximately $78,000. Virtu Financial LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $212,000. Core Wealth Partners LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $213,000. Finally, SG Americas Securities LLC acquired a new stake in Red Rock Resorts in the 1st quarter valued at $236,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

Shares of RRR opened at $52.19 on Wednesday. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The firm has a market capitalization of $5.51 billion, a P/E ratio of 18.12, a PEG ratio of 2.46 and a beta of 2.00. The business has a fifty day moving average of $53.51 and a 200 day moving average of $54.16.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The company had revenue of $488.90 million during the quarter, compared to analyst estimates of $490.49 million. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Red Rock Resorts will post 1.82 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 1.92%. Red Rock Resorts’s dividend payout ratio is 34.72%.

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.