Red Rock Resorts, Inc. (RRR) – What Are Brokerages Saying About This Stock?

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $71.83.

RRR has been the subject of a number of recent research reports. Texas Capital raised Red Rock Resorts to a “strong-buy” rating in a research report on Wednesday, September 9th. Wall Street Zen raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Bank of America increased their price target on Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company lifted their price objective on Red Rock Resorts from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Tuesday, October 13th.

Red Rock Resorts Stock Performance

RRR traded down $0.82 during midday trading on Friday, reaching $49.61. The company had a trading volume of 685,849 shares, compared to its average volume of 871,588. Red Rock Resorts has a 12-month low of $47.49 and a 12-month high of $68.99. The business has a 50-day moving average price of $53.71 and a two-hundred day moving average price of $57.57. The stock has a market cap of $5.21 billion, a PE ratio of 17.53, a P/E/G ratio of 4.15 and a beta of 1.40. The company has a debt-to-equity ratio of 12.33, a quick ratio of 0.63 and a current ratio of 0.68.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.16. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. The company had revenue of $510.26 million during the quarter, compared to analyst estimates of $500.08 million. During the same quarter last year, the business posted $0.95 EPS. Red Rock Resorts’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Red Rock Resorts will post 1.54 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Red Rock Resorts’s payout ratio is 36.75%.

Insider Activity

In related news, President Scott Kreeger sold 31,159 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the sale, the president directly owned 203,881 shares in the company, valued at approximately $12,595,768.18. This represents a 13.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 54.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its position in shares of Red Rock Resorts by 4,566.7% during the third quarter. Fortitude Family Office LLC now owns 560 shares of the company’s stock worth $28,000 after acquiring an additional 548 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. Nykredit A S purchased a new position in shares of Red Rock Resorts in the second quarter valued at $45,000. Farther Finance Advisors LLC grew its position in shares of Red Rock Resorts by 252.9% in the third quarter. Farther Finance Advisors LLC now owns 900 shares of the company’s stock valued at $45,000 after purchasing an additional 645 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Red Rock Resorts during the 2nd quarter valued at $47,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming, entertainment and hospitality company based in Las Vegas, Nevada. Through its principal operating subsidiary, Station Casinos, the company develops, owns and operates casino resorts and other gaming properties, primarily serving the Las Vegas locals market.

Its portfolio includes destination-style properties such as Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, and Durango Casino & Resort, along with neighborhood casinos including Palace Station, Boulder Station, Santa Fe Station and several Wildfire locations.