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

Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $71.1538.

A number of brokerages have recently weighed in on RRR. Truist Financial reaffirmed a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Jefferies Financial Group reissued a “buy” rating and set a $79.00 price target on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Barclays lifted their price objective on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Wells Fargo & Company raised their price target on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Finally, Citizens Jmp upped their price objective on Red Rock Resorts from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 14th.

Red Rock Resorts Trading Down 0.3%

Shares of RRR stock opened at $59.80 on Friday. Red Rock Resorts has a 1-year low of $35.09 and a 1-year high of $68.99. The firm has a market cap of $6.28 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.49 and a beta of 1.46. The company has a 50-day moving average of $62.52 and a two-hundred day moving average of $60.43. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.41 by $0.34. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. During the same period in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

Institutional Trading of Red Rock Resorts

A number of large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts during the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Red Rock Resorts by 230.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock worth $29,000 after purchasing an additional 385 shares in the last quarter. Strs Ohio purchased a new position in Red Rock Resorts in the third quarter valued at $37,000. Finally, GAMMA Investing LLC increased its holdings in Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.