Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.75.
A number of equities research analysts have issued reports on RRR shares. Zacks Investment Research downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Deutsche Bank reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Red Rock Resorts in a research report on Thursday, December 21st. BidaskClub downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, Stifel Nicolaus downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating and increased their target price for the company from $29.00 to $37.00 in a research report on Friday, February 23rd. They noted that the move was a valuation call.
Institutional investors have recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Red Rock Resorts by 2.5% during the 4th quarter. Swiss National Bank now owns 116,100 shares of the company’s stock valued at $3,917,000 after buying an additional 2,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Red Rock Resorts by 5.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 510,513 shares of the company’s stock valued at $11,824,000 after purchasing an additional 26,420 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Red Rock Resorts by 763.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock valued at $134,000 after purchasing an additional 3,505 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts during the 3rd quarter valued at $387,000. Finally, Lomas Capital Management LLC grew its holdings in shares of Red Rock Resorts by 229.2% during the 4th quarter. Lomas Capital Management LLC now owns 885,727 shares of the company’s stock valued at $29,884,000 after purchasing an additional 616,642 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.
Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $394.02 million during the quarter, compared to the consensus estimate of $406.75 million. Red Rock Resorts had a net margin of 2.18% and a return on equity of 16.11%. equities research analysts expect that Red Rock Resorts will post 1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, March 14th. Red Rock Resorts’s dividend payout ratio is presently 64.52%.
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About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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