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

Red Rock Resorts, Inc. (NASDAQ:RRR) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $67.9375.

Several equities research analysts have commented on the stock. Citizens Jmp lowered their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Wells Fargo & Company reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $72.00 price target on shares of Red Rock Resorts in a report on Thursday, April 30th. Stifel Nicolaus set a $70.00 price objective on shares of Red Rock Resorts in a research report on Friday, May 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Red Rock Resorts in a research note on Thursday, July 2nd.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $63.32 on Thursday. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $6.65 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 5.01 and a beta of 1.35. The stock has a 50-day moving average of $58.45 and a 200-day moving average of $59.54. Red Rock Resorts has a one year low of $50.52 and a one year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The firm had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, sell-side analysts expect that Red Rock Resorts will post 1.53 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts’s dividend payout ratio is 33.44%.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at about $25,000. Kestra Advisory Services LLC bought a new stake in Red Rock Resorts during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. raised its holdings in Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after buying an additional 481 shares during the period. GAMMA Investing LLC raised its holdings in Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Red Rock Resorts by 98.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after buying an additional 733 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.