Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Rating of “Moderate Buy” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.50.

A number of brokerages have recently commented on RRR. Morgan Stanley raised their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Macquarie lifted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Susquehanna lifted their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their price target on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

Red Rock Resorts Trading Down 0.6 %

NASDAQ RRR opened at $54.12 on Friday. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market capitalization of $5.72 billion, a PE ratio of 18.79, a P/E/G ratio of 5.47 and a beta of 2.04. The company has a fifty day moving average of $55.09 and a 200 day moving average of $55.12.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Research analysts forecast that Red Rock Resorts will post 1.66 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, September 16th. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Insiders Place Their Bets

In other news, COO Kord Nichols sold 49,464 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now directly owns 71,946 shares in the company, valued at $4,172,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now directly owns 71,946 shares in the company, valued at approximately $4,172,868. The disclosure for this sale can be found here. Insiders have acquired a total of 200,000 shares of company stock valued at $10,426,000 in the last 90 days. 53.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp raised its position in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after purchasing an additional 241 shares during the period. Sequoia Financial Advisors LLC lifted its position in Red Rock Resorts by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after buying an additional 292 shares during the last quarter. Arizona State Retirement System lifted its position in Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares during the last quarter. WCG Wealth Advisors LLC increased its position in shares of Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after acquiring an additional 450 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.