Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Consensus Recommendation of “Hold” from Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $52.83.

A number of analysts have weighed in on RRR shares. JMP Securities reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of Red Rock Resorts in a research note on Friday, May 2nd. Mizuho decreased their target price on Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Stifel Nicolaus cut their price target on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price objective on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after acquiring an additional 54,863 shares in the last quarter. JPMorgan Chase & Co. raised its position in Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock valued at $4,856,000 after purchasing an additional 14,148 shares during the last quarter. Ring Mountain Capital LLC acquired a new position in Red Rock Resorts in the fourth quarter worth $487,000. OFI Invest Asset Management bought a new stake in shares of Red Rock Resorts during the fourth quarter worth $2,054,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Red Rock Resorts by 8.7% during the fourth quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company’s stock worth $18,393,000 after purchasing an additional 31,858 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $44.40 on Friday. The stock has a 50-day simple moving average of $42.79 and a 200 day simple moving average of $47.03. Red Rock Resorts has a twelve month low of $35.09 and a twelve month high of $61.73. The stock has a market capitalization of $4.71 billion, a PE ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.33. The company had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. Research analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 14th will be given a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date is Wednesday, May 14th. Red Rock Resorts’s dividend payout ratio (DPR) is 38.76%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.