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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.33.

Several research analysts recently issued reports on RRR shares. Truist Financial cut their target price on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Susquehanna upped their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Mizuho dropped their price target on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

Insider Buying and Selling at Red Rock Resorts

In related news, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction on Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the acquisition, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at $2,366,379,400.77. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction on Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at $4,172,868. The disclosure for this sale can be found here. Insiders bought a total of 200,000 shares of company stock valued at $10,426,000 in the last three months. Company insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the company. Truist Financial Corp raised its position in Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Red Rock Resorts during the second quarter valued at about $4,907,000. Creative Planning increased its holdings in shares of Red Rock Resorts by 5.9% in the second quarter. Creative Planning now owns 15,902 shares of the company’s stock worth $873,000 after buying an additional 886 shares during the period. Algert Global LLC bought a new stake in shares of Red Rock Resorts in the 2nd quarter valued at about $279,000. Finally, Shellback Capital LP boosted its holdings in Red Rock Resorts by 327.6% during the 2nd quarter. Shellback Capital LP now owns 103,200 shares of the company’s stock valued at $5,669,000 after acquiring an additional 79,067 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Shares of RRR opened at $58.28 on Monday. Red Rock Resorts has a one year low of $37.82 and a one year high of $63.28. The company has a market cap of $6.15 billion, a PE ratio of 20.24, a P/E/G ratio of 5.70 and a beta of 2.04. The stock has a 50-day moving average of $55.92 and a 200-day moving average of $55.52. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same period in the prior year, the firm earned $0.65 earnings per share. Red Rock Resorts’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts predict that Red Rock Resorts will post 1.66 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 1.72%. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Red Rock Resorts Company Profile

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.