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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $64.4167.

Several equities research analysts recently issued reports on RRR shares. Macquarie raised their target price on shares of Red Rock Resorts from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. JMP Securities boosted their price target on Red Rock Resorts from $64.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 16th. Citigroup assumed coverage on Red Rock Resorts in a research note on Thursday, November 20th. They set a “buy” rating and a $63.00 target price for the company. Zacks Research lowered Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Red Rock Resorts in a research note on Wednesday, October 8th.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $63.13 on Friday. The company has a debt-to-equity ratio of 10.11, a quick ratio of 0.70 and a current ratio of 0.75. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $64.25. The company’s 50 day moving average price is $57.86 and its two-hundred day moving average price is $57.35. The company has a market capitalization of $6.68 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.52.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.32. The company had revenue of $475.57 million for the quarter, compared to analyst estimates of $477.25 million. Red Rock Resorts had a return on equity of 59.86% and a net margin of 9.52%.The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. On average, analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. This is a boost from Red Rock Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, December 15th. Red Rock Resorts’s dividend payout ratio is currently 33.12%.

Red Rock Resorts announced that its board has initiated a share buyback plan on Tuesday, October 28th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Red Rock Resorts during the first quarter valued at approximately $11,025,000. Wellington Management Group LLP raised its holdings in shares of Red Rock Resorts by 29.0% during the 1st quarter. Wellington Management Group LLP now owns 111,201 shares of the company’s stock worth $4,823,000 after buying an additional 24,971 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Red Rock Resorts by 640.4% during the 1st quarter. AlphaQuest LLC now owns 38,819 shares of the company’s stock worth $1,684,000 after buying an additional 33,576 shares during the last quarter. Comerica Bank lifted its position in shares of Red Rock Resorts by 4.6% during the 1st quarter. Comerica Bank now owns 377,976 shares of the company’s stock worth $16,393,000 after buying an additional 16,496 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in Red Rock Resorts by 116.8% in the first quarter. Trexquant Investment LP now owns 247,242 shares of the company’s stock valued at $10,723,000 after buying an additional 133,208 shares in the last quarter. Institutional investors 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.