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

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $70.8571.

Several research analysts have weighed in on RRR shares. Benchmark assumed coverage on Red Rock Resorts in a research report on Monday, March 23rd. They issued a “buy” rating and a $67.00 price objective on the stock. Barclays lifted their target price on Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a report on Tuesday, March 10th. Wells Fargo & Company increased their price target on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Finally, UBS Group set a $73.00 price objective on shares of Red Rock Resorts in a report on Wednesday, December 24th.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $55.04 on Tuesday. Red Rock Resorts has a 52 week low of $35.09 and a 52 week high of $68.99. The company’s 50 day moving average price is $60.27 and its two-hundred day moving average price is $59.77. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. The stock has a market cap of $5.78 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.29 and a beta of 1.48.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.34. The company had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.Red Rock Resorts’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities analysts predict that Red Rock Resorts will post 1.76 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, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.23%.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in Red Rock Resorts in the fourth quarter worth $25,000. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts during the 4th quarter worth $27,000. Rockefeller Capital Management L.P. grew its stake in shares of 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 acquiring an additional 481 shares during the period. Strs Ohio purchased a new stake in Red Rock Resorts in the 3rd quarter worth about $37,000. Finally, GAMMA Investing LLC increased its holdings 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 acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors 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.