Red Rock Resorts (NASDAQ:RRR) Coverage Initiated by Analysts at Benchmark

Benchmark initiated coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $67.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. UBS Group set a $73.00 price objective on shares of Red Rock Resorts in a report on Wednesday, December 24th. Morgan Stanley set a $62.00 target price on shares of Red Rock Resorts in a research note on Thursday, February 12th. Wells Fargo & Company increased their target price on Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Susquehanna lifted their price target on Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research note on Wednesday, February 11th. Finally, Stifel Nicolaus upped their price objective on Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $70.86.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $58.08 on Monday. The stock’s fifty day simple moving average is $61.52 and its 200 day simple moving average is $60.14. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The company has a market capitalization of $6.10 billion, a PE ratio of 18.56, a PEG ratio of 2.39 and a beta of 1.46. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $68.99.

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

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RRR. CWM LLC raised its position in Red Rock Resorts by 4.6% during the third quarter. CWM LLC now owns 4,663 shares of the company’s stock worth $285,000 after acquiring an additional 205 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of Red Rock Resorts by 1.5% in the 3rd quarter. Baron Wealth Management LLC now owns 15,112 shares of the company’s stock valued at $923,000 after acquiring an additional 218 shares during the period. Arizona State Retirement System grew its position in shares of Red Rock Resorts by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 15,103 shares of the company’s stock valued at $922,000 after acquiring an additional 219 shares during the period. GAMMA Investing LLC lifted its stake in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Red Rock Resorts by 3.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company’s stock valued at $643,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.