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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $65.6429.

Several research firms recently weighed in on RRR. Mizuho upped their price target on Red Rock Resorts from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. UBS Group set a $73.00 target price on Red Rock Resorts in a research note on Wednesday, December 24th. Macquarie increased their price target on shares of Red Rock Resorts from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Stifel Nicolaus set a $68.00 price target on shares of Red Rock Resorts and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Truist Financial set a $75.00 price objective on shares of Red Rock Resorts in a research note on Tuesday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Red Rock Resorts by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock valued at $1,270,000 after acquiring an additional 1,282 shares in the last quarter. Millennium Management LLC raised its position in Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock valued at $18,656,000 after acquiring an additional 154,839 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Red Rock Resorts by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock valued at $4,609,000 after acquiring an additional 4,699 shares during the last quarter. Finally, Baron Wealth Management LLC bought a new stake in Red Rock Resorts in the second quarter worth approximately $775,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 0.8%

Red Rock Resorts stock opened at $61.87 on Thursday. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $64.69. The company has a debt-to-equity ratio of 10.11, a quick ratio of 0.70 and a current ratio of 0.75. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 2.66 and a beta of 1.50. The company has a 50 day moving average price of $59.74 and a 200 day moving average price of $58.90.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.32. The company had revenue of $475.57 million for the quarter, compared to the consensus estimate of $477.25 million. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. Research analysts forecast that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 28th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Red Rock Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Red Rock Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, December 15th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.12%.

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.