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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $61.67.

A number of equities analysts recently issued reports on RRR shares. Morgan Stanley boosted their price objective on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JMP Securities raised their price target on shares of Red Rock Resorts from $61.00 to $66.00 and gave the stock a “market outperform” rating in a research note on Friday, April 19th. Bank of America boosted their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Mizuho initiated coverage on shares of Red Rock Resorts in a research report on Tuesday, March 26th. They set a “buy” rating and a $69.00 target price on the stock. Finally, Truist Financial increased their price objective on Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently made changes to their positions in the business. Bamco Inc. NY raised its stake in Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after acquiring an additional 962,841 shares during the last quarter. FMR LLC raised its stake in shares of Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after purchasing an additional 1,663,839 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Red Rock Resorts by 1.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after purchasing an additional 91,798 shares during the period. Eminence Capital LP boosted its position in Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after buying an additional 413,871 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Red Rock Resorts by 2.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock worth $73,951,000 after buying an additional 32,427 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 0.3 %

RRR stock opened at $54.23 on Tuesday. The firm’s fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $52.42. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. Red Rock Resorts has a twelve month low of $37.82 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts anticipate that Red Rock Resorts will post 1.92 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.84%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

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.