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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $67.5333.

RRR has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Truist Financial lowered their price target on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Citigroup lowered their price target on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 1st. Citizens Jmp lowered their price target on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Finally, Jefferies Financial Group lowered their price target on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a report on Monday, April 6th.

Red Rock Resorts Stock Performance

Shares of RRR opened at $63.11 on Friday. The stock has a 50 day moving average price of $55.80 and a 200 day moving average price of $59.00. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 4.78 and a beta of 1.36. Red Rock Resorts has a 52-week low of $47.56 and a 52-week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The business had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Research analysts predict that Red Rock Resorts will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

Institutional Investors Weigh In On Red Rock Resorts

Several large investors have recently modified their holdings of RRR. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the period. Invesco Ltd. boosted its holdings 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 acquiring an additional 817,524 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $45,724,000. State Street Corp boosted its holdings in shares of Red Rock Resorts by 62.1% in the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after acquiring an additional 695,575 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after acquiring an additional 349,822 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

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.