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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $60.42.

A number of brokerages recently issued reports on RRR. Morgan Stanley upped their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $57.00 to $44.00 in a report on Monday, November 25th. Truist Financial cut their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays reduced their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts in the second quarter valued at $21,987,000. Eminence Capital LP increased its holdings in Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after purchasing an additional 374,128 shares during the period. Sequoia Financial Advisors LLC raised its position in Red Rock Resorts by 4,050.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after buying an additional 251,855 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $49.36 on Wednesday. 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 stock’s fifty day moving average is $51.82 and its two-hundred day moving average is $53.60. The firm has a market capitalization of $5.21 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a fifty-two week low of $46.19 and a fifty-two week high of $63.28.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. Red Rock Resorts’s payout ratio is presently 37.04%.

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.