Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Rating of “Moderate Buy” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $60.7273.

A number of equities analysts recently commented on the stock. JMP Securities raised their price objective on shares of Red Rock Resorts from $57.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 30th. Citigroup reiterated an “outperform” rating on shares of Red Rock Resorts in a research note on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Red Rock Resorts in a research note on Monday, June 23rd. They issued an “overweight” rating and a $62.00 price objective on the stock. Stifel Nicolaus set a $60.00 price objective on shares of Red Rock Resorts and gave the company a “hold” rating in a research note on Wednesday, July 30th. Finally, Barclays upped their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th.

Red Rock Resorts Stock Down 2.5%

NASDAQ RRR opened at $59.04 on Monday. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84. The company’s 50 day simple moving average is $54.55 and its 200 day simple moving average is $48.86. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $62.00. The company has a market capitalization of $6.23 billion, a P/E ratio of 20.08, a PEG ratio of 2.38 and a beta of 1.66.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The business had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. During the same period in the previous year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio is currently 34.01%.

Insider Activity

In related news, CFO Stephen Lawrence Cootey sold 121,400 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the completion of the sale, the chief financial officer owned 260,268 shares in the company, valued at $15,626,490.72. This trade represents a 31.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey T. Welch sold 56,653 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the sale, the executive vice president owned 314,767 shares of the company’s stock, valued at $18,958,416.41. This trade represents a 15.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,628 shares of company stock worth $13,501,984. 53.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock worth $357,000 after acquiring an additional 8,138 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after acquiring an additional 258,310 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts in the 1st quarter valued at about $750,000. KBC Group NV boosted its stake in shares of Red Rock Resorts by 44.6% in the 1st quarter. KBC Group NV now owns 2,887 shares of the company’s stock valued at $125,000 after purchasing an additional 891 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in shares of Red Rock Resorts by 85.3% in the 1st quarter. Malaga Cove Capital LLC now owns 24,783 shares of the company’s stock valued at $1,075,000 after purchasing an additional 11,406 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

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.