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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $69.8125.

RRR has been the subject of a number of recent analyst reports. Citizens Jmp reduced their target price 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. Weiss Ratings raised shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. UBS Group set a $75.00 price target on shares of Red Rock Resorts in a report on Thursday, July 2nd. Citigroup reduced their price objective on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Benchmark decreased their price objective on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 30th.

Red Rock Resorts Price Performance

Shares of RRR opened at $65.51 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. The stock’s 50 day moving average is $59.45 and its two-hundred day moving average is $59.60. Red Rock Resorts has a twelve month low of $50.52 and a twelve month high of $68.99. The firm has a market capitalization of $6.88 billion, a PE ratio of 21.06, a P/E/G ratio of 4.85 and a beta of 1.35.

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

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.44%.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in Red Rock Resorts by 2,248.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after purchasing an additional 1,296,956 shares during the last quarter. Invesco Ltd. grew its holdings in 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 last quarter. Wellington Management Group LLP acquired a new stake in Red Rock Resorts in the fourth quarter valued at $45,724,000. State Street Corp increased its position 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 buying an additional 695,575 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Red Rock Resorts by 656.8% in the fourth quarter. Millennium Management LLC now owns 373,038 shares of the company’s stock valued at $23,110,000 after buying an additional 323,749 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

About Red Rock Resorts

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.