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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $71.1538.

RRR has been the topic of a number of recent research reports. Barclays upped their target price on Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Mizuho set a $77.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings upgraded shares of Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently added to or reduced their stakes in RRR. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Red Rock Resorts during the 3rd quarter worth $4,961,000. Capital Fund Management S.A. purchased a new stake in shares of Red Rock Resorts in the 2nd quarter valued at approximately $1,441,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $62,000. Diametric Capital LP purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at approximately $3,786,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in Red Rock Resorts in the third quarter valued at approximately $1,203,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 0.3%

Red Rock Resorts stock opened at $59.80 on Friday. The business’s 50-day simple moving average is $62.52 and its two-hundred day simple moving average is $60.43. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The company has a market cap of $6.28 billion, a PE ratio of 19.11, a PEG ratio of 2.49 and a beta of 1.46. Red Rock Resorts has a fifty-two week low of $35.09 and a fifty-two week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.34. The company had revenue of $511.78 million for the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. Red Rock Resorts’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Equities analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.23%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.