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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $63.50.

A number of analysts have recently issued reports on RRR shares. Susquehanna raised their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Barclays raised their target price on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Macquarie upped their price target on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Truist Financial reduced their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th.

Insider Activity

In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the purchase, the vice president now directly owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares in the company, valued at approximately $4,172,868. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the purchase, the vice president now owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its stake in shares of Red Rock Resorts by 16,666.7% during the first 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 position in Red Rock Resorts in the 1st quarter valued at $78,000. Point72 DIFC Ltd purchased a new position in Red Rock Resorts during the 2nd quarter worth $98,000. nVerses Capital LLC acquired a new stake in shares of Red Rock Resorts in the 2nd quarter worth $154,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Red Rock Resorts in the first quarter valued at about $236,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Up 1.0 %

Shares of NASDAQ:RRR opened at $54.35 on Friday. Red Rock Resorts has a 52-week low of $37.82 and a 52-week high of $63.28. The stock has a market cap of $5.74 billion, a P/E ratio of 18.87, a PEG ratio of 5.32 and a beta of 2.04. The business has a fifty day moving average of $55.40 and a two-hundred day moving average of $55.18. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15.

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

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s payout ratio is 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.