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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.6429.

A number of brokerages recently weighed in on RRR. Benchmark began coverage on shares of Red Rock Resorts in a report on Monday, March 23rd. They issued a “buy” rating and a $67.00 price target for the company. Susquehanna raised their price target on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a report on Wednesday, February 11th. Truist Financial lowered their price target on shares of Red Rock Resorts from $80.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 17th. Finally, Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a report on Tuesday, March 10th.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently bought and sold shares of RRR. Arrowstreet Capital Limited Partnership grew its holdings in Red Rock Resorts by 2,248.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after acquiring an additional 1,296,956 shares during the period. Invesco Ltd. grew its holdings in Red Rock Resorts by 345.6% during the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock worth $65,301,000 after acquiring an additional 817,524 shares during the period. Wellington Management Group LLP acquired a new stake in Red Rock Resorts during the 4th quarter worth $45,724,000. State Street Corp grew its holdings in Red Rock Resorts by 62.1% during the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock worth $112,428,000 after acquiring an additional 695,575 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Red Rock Resorts by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock worth $339,764,000 after acquiring an additional 349,822 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $56.06 on Friday. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.42 and a beta of 1.48. The company has a 50 day moving average of $57.67 and a 200-day moving average of $59.26. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. Red Rock Resorts has a 1-year low of $41.83 and a 1-year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The business had revenue of $507.32 million during the quarter, compared to analyst estimates of $507.77 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. Red Rock Resorts’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, equities analysts forecast that Red Rock Resorts will post 2.12 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

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.