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

Red Rock Resorts, Inc. (NASDAQ:RRR) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $70.8571.

A number of research analysts have weighed in on RRR shares. Weiss Ratings cut Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Benchmark assumed coverage on Red Rock Resorts in a report on Monday, March 23rd. They issued a “buy” rating and a $67.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $79.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Barclays upped their target price on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Stifel Nicolaus raised their target price on Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $52.19 on Tuesday. The firm has a 50-day simple moving average of $60.83 and a 200-day simple moving average of $59.93. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. During the same period in the previous year, the business posted $0.76 earnings per share. Red Rock Resorts’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio is currently 33.23%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors have recently bought and sold shares of RRR. Salomon & Ludwin LLC purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. raised its position in shares of Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after buying an additional 481 shares during the period. Strs Ohio acquired a new position in Red Rock Resorts in the third quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted its holdings in Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after acquiring an additional 263 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

About Red Rock Resorts

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.