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

Red Rock Resorts, Inc. (NASDAQ:RRR) has received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $67.5333.

Several brokerages recently commented on RRR. Wells Fargo & Company reduced their target price on 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. Stifel Nicolaus set a $70.00 price objective on Red Rock Resorts in a report on Friday, May 29th. Zacks Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a report on Thursday, April 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RRR. GAMMA Investing LLC lifted its holdings in shares of Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Red Rock Resorts by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company’s stock valued at $643,000 after purchasing an additional 324 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Red Rock Resorts by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 46,720 shares of the company’s stock valued at $2,431,000 after purchasing an additional 343 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Red Rock Resorts by 3.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company’s stock valued at $628,000 after purchasing an additional 378 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Red Rock Resorts by 14.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,996 shares of the company’s stock valued at $149,000 after purchasing an additional 387 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $61.33 on Friday. The stock has a market cap of $6.44 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 4.65 and a beta of 1.36. Red Rock Resorts has a one year low of $49.47 and a one year high of $68.99. The stock has a fifty day moving average price of $56.31 and a 200 day moving average price of $59.10. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). The firm had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. Analysts predict that Red Rock Resorts will post 1.53 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.26 per share. 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 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.44%.

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.