Red Rock Resorts (NASDAQ:RRR) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Red Rock Resorts (NASDAQ:RRRGet Rating) in a research report report published on Wednesday morning, The Fly reports. The firm issued a buy rating and a $50.00 target price on the stock.

RRR has been the subject of a number of other research reports. Loop Capital assumed coverage on Red Rock Resorts in a report on Monday, July 11th. They issued a hold rating and a $36.00 price target for the company. KeyCorp set a $45.00 target price on Red Rock Resorts in a report on Tuesday, July 19th. Truist Financial reduced their target price on Red Rock Resorts from $65.00 to $45.00 and set a buy rating for the company in a report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft increased their target price on Red Rock Resorts from $45.00 to $50.00 and gave the company a buy rating in a report on Wednesday, August 10th. Finally, Wells Fargo & Company reduced their target price on Red Rock Resorts from $56.00 to $48.00 and set an overweight rating for the company in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $47.67.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $38.91 on Wednesday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 11.94 and a beta of 2.25. Red Rock Resorts has a twelve month low of $30.98 and a twelve month high of $58.74. The company has a current ratio of 1.63, a quick ratio of 1.58 and a debt-to-equity ratio of 29.17. The stock has a 50-day moving average of $37.98 and a 200 day moving average of $40.78.

Red Rock Resorts (NASDAQ:RRRGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.42). The business had revenue of $422.20 million during the quarter, compared to analyst estimates of $404.39 million. Red Rock Resorts had a return on equity of 146.71% and a net margin of 17.10%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Sell-side analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.57%. Red Rock Resorts’s payout ratio is 30.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Red Rock Resorts in the first quarter worth approximately $30,000. Lindbrook Capital LLC grew its position in Red Rock Resorts by 247.1% in the first quarter. Lindbrook Capital LLC now owns 1,024 shares of the company’s stock worth $50,000 after acquiring an additional 729 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Red Rock Resorts during the first quarter worth $92,000. FourThought Financial LLC boosted its position in shares of Red Rock Resorts by 17.9% during the first quarter. FourThought Financial LLC now owns 2,353 shares of the company’s stock worth $114,000 after buying an additional 357 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Red Rock Resorts during the second quarter worth $92,000. 52.30% of the stock is currently owned by hedge funds and other institutional investors.

About Red Rock Resorts

(Get Rating)

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

Further Reading

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Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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