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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $52.64.

RRR has been the subject of a number of analyst reports. Truist Financial reduced their price target on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Susquehanna dropped their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Barclays dropped their price objective on Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, JMP Securities dropped their price objective on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 17th.

Red Rock Resorts Trading Down 0.6%

Shares of RRR stock opened at $49.09 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. Red Rock Resorts has a 1 year low of $35.09 and a 1 year high of $61.73. The stock has a fifty day moving average of $43.68 and a two-hundred day moving average of $46.41. The firm has a market capitalization of $5.21 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, June 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 38.76%.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of RRR. Long Pond Capital LP raised its position in shares of Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after purchasing an additional 866,320 shares during the period. Bamco Inc. NY raised its position in shares of Red Rock Resorts by 6.9% during the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after purchasing an additional 732,917 shares during the period. Eminence Capital LP raised its position in shares of Red Rock Resorts by 36.1% during the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock valued at $19,534,000 after buying an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 19.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after buying an additional 258,310 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

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.