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

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong 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 $71.94.

Several analysts have weighed in on the company. Barclays lifted their price objective on Red Rock Resorts from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. UBS Group set a $75.00 price target on Red Rock Resorts in a research report on Thursday, July 2nd. The Goldman Sachs Group restated a “buy” rating and set a $73.00 price target on shares of Red Rock Resorts in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus set a $74.00 price target on Red Rock Resorts in a research note on Wednesday, August 5th.

Insider Buying and Selling at Red Rock Resorts

In related news, President Scott Kreeger sold 31,159 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the transaction, the president directly owned 203,881 shares in the company, valued at $12,595,768.18. This trade represents a 13.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red Rock Resorts

Several hedge funds have recently bought and sold shares of RRR. Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 2.0% during the fourth quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock valued at $775,607,000 after purchasing an additional 250,725 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Red Rock Resorts in the 2nd quarter worth approximately $120,743,000. Geode Capital Management LLC increased its position in Red Rock Resorts by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company’s stock valued at $73,648,000 after buying an additional 4,759 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Red Rock Resorts by 0.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,157,653 shares of the company’s stock valued at $71,717,000 after buying an additional 10,236 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 6.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 650,943 shares of the company’s stock valued at $34,734,000 after buying an additional 40,295 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 0.6%

Shares of Red Rock Resorts stock opened at $50.45 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 12.33. Red Rock Resorts has a 12-month low of $47.78 and a 12-month high of $68.99. The company has a market cap of $5.30 billion, a P/E ratio of 17.83, a PEG ratio of 4.16 and a beta of 1.31. The company’s fifty day simple moving average is $58.88 and its two-hundred day simple moving average is $58.48.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $510.26 million for the quarter, compared to analyst estimates of $500.08 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts anticipate that Red Rock Resorts will post 1.54 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 15th. Red Rock Resorts’s payout ratio is 36.75%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.