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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $61.67.

A number of brokerages have issued reports on RRR. JMP Securities raised their price target on Red Rock Resorts from $61.00 to $66.00 and gave the stock a “market outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price objective on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Susquehanna lifted their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Morgan Stanley raised their target price on Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and raised their target price for the company from $51.00 to $58.00 in a report on Wednesday, January 17th.

Insider Activity

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 53.28% of the company’s stock.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently made changes to their positions in RRR. SG Americas Securities LLC bought a new stake in Red Rock Resorts during the first quarter worth about $236,000. FORA Capital LLC boosted its position in shares of Red Rock Resorts by 16.1% during the 1st quarter. FORA Capital LLC now owns 10,784 shares of the company’s stock worth $645,000 after acquiring an additional 1,492 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Red Rock Resorts by 35.5% in the first quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock valued at $1,919,000 after acquiring an additional 8,402 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Red Rock Resorts by 24.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock worth $56,491,000 after purchasing an additional 188,095 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter valued at $212,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 0.3 %

RRR opened at $54.23 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The firm has a market cap of $5.70 billion, a P/E ratio of 18.38, a PEG ratio of 2.81 and a beta of 2.08. Red Rock Resorts has a 52 week low of $37.82 and a 52 week high of $63.28. The business’s fifty day simple moving average is $57.86 and its 200 day simple moving average is $52.42.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. As a group, equities research analysts anticipate that Red Rock Resorts will post 1.92 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.90%.

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.