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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $52.64.

A number of research analysts have issued reports on RRR shares. Mizuho raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, June 2nd. JMP Securities reduced their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus reduced their target price on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Susquehanna reduced their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research note on Wednesday, April 16th.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Red Rock Resorts by 1.3% in the 1st quarter. Rhumbline Advisers now owns 73,332 shares of the company’s stock worth $3,180,000 after acquiring an additional 906 shares during the period. WBI Investments LLC acquired a new stake in shares of Red Rock Resorts in the 1st quarter worth approximately $210,000. Bayforest Capital Ltd raised its holdings in shares of Red Rock Resorts by 1,011.1% in the 1st quarter. Bayforest Capital Ltd now owns 19,366 shares of the company’s stock worth $840,000 after purchasing an additional 17,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Red Rock Resorts by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in shares of Red Rock Resorts in the 1st quarter worth approximately $204,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Trading Up 1.3%

NASDAQ RRR opened at $50.04 on Wednesday. Red Rock Resorts has a one year low of $35.09 and a one year high of $61.73. The company has a 50-day simple moving average of $44.08 and a 200-day simple moving average of $46.38. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a market capitalization of $5.31 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.32 and a beta of 1.61.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The business had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same period in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts’s dividend payout ratio is currently 38.76%.

About Red Rock Resorts

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.