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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $68.1250.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Benchmark lowered their price target on Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Citigroup dropped 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. Truist Financial cut their price target on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Sunday.

Red Rock Resorts Trading Up 0.3%

Shares of NASDAQ:RRR opened at $64.41 on Thursday. Red Rock Resorts has a one year low of $50.52 and a one year high of $68.99. The stock has a market capitalization of $6.76 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 4.86 and a beta of 1.35. 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 company’s 50-day moving average price is $58.98 and its two-hundred day moving average price is $59.56.

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 company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Red Rock Resorts will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Red Rock Resorts’s payout ratio is presently 33.44%.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC boosted its holdings in shares of Red Rock Resorts by 4.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock worth $338,000 after buying an additional 234 shares during the last quarter. GAMMA Investing LLC lifted its stake in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Red Rock Resorts by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company’s stock valued at $643,000 after buying an additional 324 shares during the period. California State Teachers Retirement System grew its holdings in shares of Red Rock Resorts by 0.7% during the second quarter. California State Teachers Retirement System now owns 46,720 shares of the company’s stock worth $2,431,000 after purchasing an additional 343 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Red Rock Resorts by 3.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company’s stock worth $628,000 after buying an additional 378 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.