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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRRGet Free Report) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $58.08.

A number of analysts have recently issued reports on RRR shares. JMP Securities dropped their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Truist Financial dropped their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th.

Get Our Latest Report on RRR

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently modified their holdings of RRR. Bamco Inc. NY increased its position in Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after purchasing an additional 106,509 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 20.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after purchasing an additional 229,843 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after buying an additional 14,029 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Red Rock Resorts by 3.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after buying an additional 38,443 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Red Rock Resorts by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock worth $31,418,000 after buying an additional 4,810 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

Red Rock Resorts stock opened at $47.73 on Thursday. The firm’s 50 day simple moving average is $47.47 and its 200 day simple moving average is $52.01. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 1-year low of $42.46 and a 1-year high of $63.28. The firm has a market capitalization of $5.04 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 5.14 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.11. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. The firm had revenue of $468.02 million for the quarter, compared to analysts’ expectations of $460.73 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, analysts expect that Red Rock Resorts will post 1.44 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

About Red Rock Resorts

(Get Free Report

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.

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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