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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $70.8571.

RRR has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 target price on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Truist Financial reissued a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Citizens Jmp increased their price objective on shares of 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. Stifel Nicolaus lifted their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Wells Fargo & Company boosted their target price on 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.

Hedge Funds Weigh In On Red Rock Resorts

Several hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in Red Rock Resorts by 34.8% in the 4th quarter. Hsbc Holdings PLC now owns 32,355 shares of the company’s stock valued at $2,007,000 after acquiring an additional 8,357 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Red Rock Resorts by 1,924.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth about $201,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Red Rock Resorts by 2.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 323,267 shares of the company’s stock valued at $20,027,000 after purchasing an additional 6,464 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Red Rock Resorts by 345.6% in the fourth quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock valued at $65,301,000 after purchasing an additional 817,524 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $52.19 on Tuesday. The firm has a market cap of $5.48 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $68.99. The business’s fifty day simple moving average is $60.83 and its 200-day simple moving average is $59.93.

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

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid 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 dividend yield of 2.0%. Red Rock Resorts’s payout ratio is presently 33.23%.

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.